DBS took an important step towards improving South East Asia’s poor track record in green financing earlier this week when it launched an inaugural green bond.
Asia ex-China has been much slower than other parts of the world to adopt green principles. As such, the group’s $500 million FRN not only marks the first dollar-denominated green bond from Singapore, but also from the wider South East Asian region as well.
The bank’s status as a quasi-government proxy means its deal should serve as a key benchmark for other issuers thinking of tapping the offshore bond market and DBS hopes it will help to bolster Singapore’s efforts...
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