SMU's inaugural offer of bonds tagged with an environmental, social and governance (ESG) label was priced to yield 2.022%. The $150 million sustainability bond was oversubscribed and was allocated to “quality institutional investors. The University said the sustainability bond is the first such bond issued by an autonomous university in Singapore, and will mature on 28 July 2032. Apart from green initiatives with environmental benefits, SMU said that it will be committing a portion of the proceeds to fund social programmes that promote inclusive education that would benefit students from low-income families.
The Business Times © SPH Media Limited. Permission required for reproduction.
