Linklaters advises on the SGD 2.6bn green bond issuance under the medium-term note programme by the Government of Singapore

Linklaters has acted as counsel for the managers on the issuance of SGD 2.6bn (approx. US$2.025bn) Green Singapore Government Securities (Infrastructure) due 2046 by the Government of Singapore under the medium-term note (MTN) programme. The offering included an approximately SGD 7.62m in aggregate principal amount for retail investors in Singapore via the public offer.

Under the MTN programme, the Government is authorised to issue securities for moneys borrowed under the Significant Infrastructure Government Loan Act 2021 of Singapore (SINGA). The SINGA securities, which are in the form of bonds or notes, may only be issued in accordance with the SINGA and the Significant Infrastructure Government Loan Regulations 2021 (SINGR) from time to time by way of syndication, on such terms as agreed between the Monetary Authority of Singapore and the relevant dealers.

The successful issuance received strong demand from investors. The proceeds from the transaction will be used to finance expenditures in accordance with the Singapore Green Bond Framework.

The Linklaters team was led by partner and Head of South and Southeast Asia Capital Markets Amit Singh and capital markets partner Xunming Lim, with support from managing associate Alwyn Loy and associates Ashley Loh and Reeve Chia.
Linklaters’ Head of South and Southeast Asia Capital Markets Amit Singh commented,

“We are grateful to have continued to advise on the Government of Singapore’s green bond issuances under its MTN programme. This latest transaction is another important milestone in Singapore’s sovereign green finance journey and reflects the continued development of its sustainable finance market. We are proud to have supported on this successful issuance, which demonstrates both the depth of investor demand for high-quality green instruments and the strength of our capital markets capability in the region.”

With more than 50 years of on-the-ground experience in Asia, Linklaters has established a market-leading reputation in the region’s capital markets, offering clients the practical expertise and commercial insights to maximise opportunities. With one of the largest capital markets focused teams in the region, the firm has worked on many high-profile and landmark issuances across the region. including the Government of Singapore’s previous SGD 2.5bn green bond issuance under the medium term note programme.