18 October 2021

Allen & Gledhill, as transaction counsel, advised Sembcorp Industries Ltd (“SCI”) on the inaugural issue of S$675 million 2.66% sustainability-linked notes due 2032 (“Sustainability-Linked Notes”) by Sembcorp Financial Services Pte. Ltd. (“SFS”) under the S$3 billion multicurrency debt issuance programme (“Programme”) established by SCI and SFS.

The payment obligations of SFS under the Sustainability-Linked Notes will be unconditionally and irrevocably guaranteed by SCI.
This is Sembcorp group’s first sustainability-linked bond. The Sustainability-Linked Notes is the first for the energy sector in South-east Asia, and the region’s largest such issuance as at 29 September 2021.

This offering is also anchored by an investment of S$150 million from International Finance Corporation (“IFC”), a member of the World Bank Group. It marks IFC’s first investment globally as an investor in Sustainability-Linked Notes, with the partnership between Sembcorp and IFC set to support more inclusive economic growth and private sector participation, while fostering sustainable business practices and significant employment opportunities.

Advising SCI were Allen & Gledhill Partners Bernie Lee and Sunit Chhabra.


A&G News 24 January 2024

A&G Asia officially opens Allen & Gledhill LLP Shanghai Representative Office (Singapore) on 24 January 2024

Read more

A&G News 5 January 2024

Allen & Gledhill and its network firms continue to be recognised as leading law firms in the region by Chambers and Part ...

Read more