Ho Bee Land issues inaugural green bond of $160 mil

Douglas Toh
1-min read

DBS acts as the sole green structuring advisor and global coordinator for the bond issuance.

Ho Bee Land has issued its inaugural green bond, a $160 million five-year fixed-rate unsecured green bond issued off the company’s $800 million multi-currency medium-term note programme.

The bond was distributed across a diverse range of investors, including institutional investors, private banks, corporations, and financial institutions in Singapore.

Net proceeds from the issuance will be used to fund or refinance eligible green projects under Ho Bee Land H13’s Green Finance Framework, which has received a second party opinion rating of SQS2 from Moody’s, signalling the financing framework to be overall considered of very good sustainability quality.

DBS Bank acts as the sole green structuring advisor and global coordinator for this bond issuance, with DBS, OCBC and The Hongkong Shanghai Banking Corporation, acting as joint lead managers and joint bookrunners.

Nicholas Chua, CEO of Ho Bee Land, says: "Ho Bee Land is committed to ensuring sustainability is embedded in our business and financial strategies, and this green bond issuance is a testament to our commitment. It allows us to diversify our funding sources and broaden our investor base while reinforcing our dedication to green building practices."

Clifford Lee, global head of investment banking at DBS, adds: “We are pleased to have supported Ho Bee Land as its sole green structuring advisor and global coordinator for its inaugural tap of Singapore’s green capital market. On the built environment front, we see growing demand for green financing as the industry recognises the role sustainable buildings play in securing a low-carbon future."

Shares in Ho Bee Land closed flat at $1.85 on July 11.

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