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  • 27 Feb 2020
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Vena Energy Floats Singapore’s First Corporate USD Green Bond

Vena Energy, one of Asia’s leading independent power producers (IPP), has become the first Singapore-based company to issue green bonds dominated in US dollars, hoping to attract global investors in the pure renewable energy space. Vena Energy said it has successfully issued a total of $325 million in fixed-rate green bond under Regulation S. The maturity was set at five years with a 3.133 percent rate. Regulation S provides an SEC-compliant way for US and international companies to raise capital outside of the US. The green bond proceeds will be used to refinance existing corporate loans for the development, construction, and operation of eligible green projects in line with Vena Energy’s Green Financing Framework, the company said. The framework was established in 2018 to enhance the company’s planning and disclosure practices as well as providing transparency and accountability to all its stakeholders, according to Vena Energy.

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