Manulife's S$500m green bond is third to hit Singapore market

Singapore

SLOWLY but surely, Singapore is seeing more green bonds. But don't expect the slow pace to pick up anytime soon.

Manulife Corporation on Tuesday sold a S$500 million 3 per cent green bond, the first benchmark sized Singapore dollar green bond issue in Singapore. The sale attracted S$700 million in orders, and fund managers took 82 per cent of the deal.

It is also the first green bond issuance globally, issued by a life insurance company and the first by a Canadian company to be ce…