Sembcorp raises SGD675 million through SLBs

Singapore-based Sembcorp Industries has raised SGD675 million through sustainability-linked bonds (SLB) with a tenor of 10-and-a-half years and a coupon rate of 2.66 per cent.

The funds will be utilised in financing the company’s working capital requirements, refinancing the group’s existing debt and financing or refinancing its renewable energy projects. The company is planning to increase its renewable energy base in India. It aims to raise its green power portfolio globally from the existing 3 GW to 10 GW by 2025.