Vena Energy Issues Green Bond Worth $325 Million

Vena Energy has announced the effective issuance of a standard $325 million (5-year 3.133 percent fixed rate) green bond offering. This is the first corporate USD Green Bond issuance from a Singapore-based company.

The Green Bond rated BBB- by Standard & Poor’s and listed on the Singapore Exchange, is issued under Vena Energy’s Euro Medium Term Notes Programme established in November 2019. The Green Bond proceeds will be used to refinance existing corporate loans for the development, construction and operation of Eligible Green Projects in accordance with the firms’ Green Financing Framework, which was established in 2018 to enhance the company’s planning and disclosure practices as well as providing transparency and accountability to all its stakeholders.

The Green Bonds issuance was facilitated by Crédit Agricole CIB, DBS Bank Ltd, ING and MUFG serving as Joint Global Coordinators and Joint Lead Managers. ABN AMRO, Banca IMI, BNP PARIBAS and SMBC Nikko served as Joint Lead Managers. Crédit Agricole CIB and SMBC Nikko also served as Joint Green Structuring Advisors.

“This is a significant milestone for Vena Energy as we access the international capital markets and an affirmation of the positive contributions that we have made to the environment and host communities in the Asia-Pacific region,” said Nitin Apte, CEO of Vena Energy. “We are proud of the positive reception from global investors experienced during our roadshows across Asia and Europe, as we reaffirmed our commitment to play a leading role in developing and generating clean renewable energy to accelerate the transition to a low carbon economy across the Asia-Pacific region.”