WongPartnership was involved in Sembcorp Financial Services Pte. Ltd.’s issuance of its S$675 million Sustainability-linked Bonds (“SLB”) with the International Finance Corporation (“IFC”).
Acting for DBS Bank Ltd. and United Overseas Bank Limited as anchor investor, our Debt Capital Markets Practice Partner Trevor Chuan led the Firm’s team in the transaction.
This was the first SLB issuance by an energy company in South East Asia and marked IFC's first investment globally in SLB. The net proceeds from the SLB will be used to finance Sembcorp’s general working capital requirements, refinancing its existing debt and financing or refinancing its renewable energy and other sustainability projects.