Allen & Gledhill advised Surbana Jurong Private Limited (“Surbana Jurong”) on the issue of S$250 million 2.48% sustainability-linked notes due 2031 under its US$1 billion multicurrency debt issuance programme.
Surbana Jurong issued the Notes under its newly established Sustainable Finance Framework (“Framework”). This is believed to be the first Singapore dollar-denominated sustainability-linked bond and the first public sustainability-linked bond issuance from a South-east Asian based company. This is also the first Asian sustainability-linked bond to feature a premium step-up structure at maturity.
The Framework is prepared in line with the Sustainability Linked Bond Principles (2020) developed by the International Capital Markets Association and helps boost Surbana Jurong’s efforts to translate the United Nations Sustainable Development Goals, set out in the 2030 agenda, into concrete and measurable actions.
Advising Surbana Jurong was Allen & Gledhill Partner Margaret Chin.
Advising Surbana Jurong on tax issues was Allen & Gledhill Partner Sunit Chhabra.