Funds from CDL's first green bond will go towards repaying a S$100 million loan extended by CDL to CDL Properties, which owns Republic Plaza. Republic Plaza saves more than S$1.2 million annually by cutting energy and water consumption.
CITY Developments (CDL) on Thursday emerged as the first Singapore company to sell green bonds.
The property developer's unit CDL Properties priced a two-year senior secured green bond, raising S$100 million at a fixed rate of 1.98 per cent per annum. The investors were...