Singapore Joins Green-Bond Bonanza With $1.7 Billion Sale
- Country prices its first 50-year debt, deal oversubscribed
- Government to use proceeds to improve public transport
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Singapore is raising S$2.4 billion ($1.7 billion) via its first green bond, choosing a 50-year tenor as it joins countries from South Korea to Egypt looking to fund the battle against climate change.
The debt maturing in 2072 priced with a yield of 3.04%, according to the Monetary Authority of Singapore. That’s an 11 basis-point tightening compared with the start of the marketing process. More than S$5.3 billion of orders were received, it said in an emailed statement Thursday.