Surbana Jurong Group’s S$250 Million Bond Offering

Clifford Chance has advised ANZ and DBS Bank as joint lead managers on the issuance of Surbana Jurong Group’s S$250 million bond offering under its US$1 billion multicurrency debt issuance programme. The Company was assisted by Allen & Gledhill.

The bond, due 2031, is the first Singapore dollar-denominated sustainability-linked bond and the first public sustainability-linked bond issuance by a Southeast Asia-based company.

The transaction represents first Asian sustainability-linked bond to feature a premium step-up at maturity. If certain sustainability goals are not met, Surbana Jurong Group will pay investors a premium payment of 0.75 per cent of the redemption amount at maturity.

Clifford Chance’s Lead partner Gareth Deiner (Picture) was supported by counsel Ying Chiang Chong and senior associate Claire Neo who advised across English and Singapore law.

The Allen & Gledhill team included Partner Margaret Chin and Partner Sunit Chhabra.

Involved fees earner: Sunit Chhabra – Allen & Gledhill LLP; Margaret Chin – Allen & Gledhill LLP; Ying Chiang Chong – Clifford Chance; Gareth Deiner – Clifford Chance; Claire Neo – Clifford Chance;

Law Firms: Allen & Gledhill LLP; Clifford Chance;

Clients: Australia and New Zealand Banking Group Ltd.; DBS Bank; Surbana Jurong;

Sonia Carcano

Author: Sonia Carcano