10 June 2024

Allen & Gledhill, as transaction counsel, advised the Monetary Authority of Singapore (“MAS”), on the issue of S$2.5 billion fixed rate bonds due 2054 (“Bonds”) under the Government of Singapore’s medium term note programme for issuance of Singapore Government Securities (Infrastructure) (including Green SGS (Infrastructure)) via syndication.

The Bonds are Singapore’s first sovereign green bonds with a 30-year tenor, and follows the earlier inaugural issuance and re-opening issuance of the 50-year sovereign green bonds in 2022 and 2023, respectively.

The Bonds form part of the pipeline of up to S$35 billion of sovereign and public sector green bonds that the Government of Singapore and its statutory boards intend to issue by 2030. Proceeds from the Bonds will also be used to finance expenditures in support of the Singapore Green Plan 2030, which includes two new MRT lines - the Jurong Region Line and the Cross Island Line, to build green infrastructure for a financially and environmentally sustainable future.

Advising MAS were Allen & Gledhill Partners Yeo Wico, Jeanne Ong, Sunit Chhabra, Andrew Chan, and Jo Tay.

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