Singapore firm Vena Energy sets new bar with inaugural green bond issuance
Singapore
SINGAPORE-based Vena Energy's maiden green bond issuance is a key milestone in Singapore's quest to become a global green finance hub, said industry observers.
This comes as the independent power producer in February became the first homegrown firm to offer US dollar-denominated green bonds, issuing US$325 million in five-year bonds with a fixed coupon of 3.133 per cent per annum.
Robust order book responses - mainly from European investors - had peaked in excess of US$1.3 billion to eclipse the firm's initial target, said Kelvin Chong, ING head of debt capital markets for South and South-east Asia.
About 73 per cent of the final allocation went to European investors, and the remaining 28 per cent to Asian investors. This compares with traditional de…
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