PUB issues $325 mil of green notes due 2031 at 2.502%

Ashley Lo
1-min read

The notes are issued under PUB’s $10 billion medium term note programme.

Singapore’s Public Utilities Board (PUB), the national water agency, has issued $325 million of series 003 green notes under its $10 billion medium term note programme, according to an Oct 1 release.

The programme was established Aug 10, 2022, with PUB issuing notes from time to time.

The notes will be issued at an issue price of 100% of their principal amount and is expected to be issued in denominations of $250,000.

The notes will bear an interest rate of 2.502% per annum and interest on the notes will be payable semi-annually in arrear. The notes are set to mature on Oct 1, 2031.

The series 003 notes will be offered in Singapore to institutional investors and are expected to be listed on the Singapore Exchange S68 (SGX) on Oct 2, with effect from 9am.

United Overseas Bank Limited is the sole lead manager of the notes.

According to the group, the net proceeds from the notes will go towards the financing or refinancing of new or existing eligible green projects under PUB’s green financing framework.

 

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