UOB raises USD1.5 billion from its first green bond offering in Singapore

The United Overseas Bank (UOB) has raised USD1.5 billion  with a final orderbook of USD2.75 billion in its first sustainability bond offering in Singapore. These bonds will be distributed under UOB’s global medium-term note scheme. The notes are scheduled to be issued on April 14, 2021. The transaction’s joint lead managers are BNP Paribas, Societe Generale, HSBC and UOB, with Bank of China as a co-manager.

The funds raised will be used to finance or refinance eligible companies and initiatives in areas like green construction, sustainable energy and qualified social properties. The social assets include COVID-19 related emergency bridge loans to small and medium enterprises (SMEs) in Singapore to help them sustain jobs and mitigate the pandemic’s challenges.

This sustainability bond is Singapore’s first bank capital offering focused on environmental, social, and corporate governance (ESG).