Vena Energy has launched the first corporate US dollar Green Bond issuance from a Singapore-based company
The renewable energy company announced the issuance of a $325m 5-year Green Bond offering with a fixed rate of 3.133%.
Proceeds from the Green Bond will be used to refinance existing corporate loans for the development, construction and operation of eligible green products. For example, Vena Energy manages solar, wind and battery energy storage systems in Australia, India, Indonesia, Japan, South Korea, Philippines, Taiwan and Thailand.
The green bond has been rated BBB- by Standard & Poor’s and is listed on the Singapore Exchange. It is available to investors across Europe.
Anthony Carter, fund manager of Sarasin’s Responsible Corporate Bond fund, commented : “In short, I think there will be tremendous demand for renewable energy (and conversely declining demand for traditional energy producers), so names like Vena Energy will have no trouble raising funds.”