Sembcorp Financial Services Pte. Ltd.’s S$675 Million Sustainability-Linked Notes

Allen & Gledhill advised Sembcorp Industries Ltd on the issue.

Sembcorp Financial Services Pte. Ltd. (“SFS”) issued S$675 million 2.66% sustainability-linked notes due 2032 under the S$3 billion multicurrency debt issuance programme established by Sembcorp Industries Ltd (“SCI”) and SFS. 

This is Sembcorp group’s first sustainability-linked bond.

The payment obligations of SFS under the Sustainability-Linked Notes will be unconditionally and irrevocably guaranteed by SCI.

This offering is also anchored by an investment of S$150 million from International Finance Corporation (“IFC”), a member of the World Bank Group. It marks IFC’s first investment globally as an investor in Sustainability-Linked Notes, with the partnership between Sembcorp and IFC set to support more inclusive economic growth and private sector participation, while fostering sustainable business practices and significant employment opportunities.

The Allen & Gledhill team was led by Partners Bernie Lee (Picture) and Sunit Chhabra.

Involved fees earner: Sunit Chhabra – Allen & Gledhill LLP; Bernie Lee – Allen & Gledhill LLP;

Law Firms: Allen & Gledhill LLP;

Clients: Sembcorp Industries;

Author: Sonia Carcano