Manulife Financial said it placed SG$500 million worth of «green bonds,» its first issuance of an instrument meant to raise capital for projects with environmental benefits.
The Toronto-based asset manager said its SG$500 million «green bond» issue in Singapore will pay 3 percent interest over the next seven years, and 0.832 percent over the five-year SG$ swap rate after that.
The bonds, the issue of which was jointly led by DBS, HSBC in Singapore and Standard Chartered, mature in 2029. «Issuing a green bond aligns our financing with our existing green investment activities,» Manulife finance chief Steve Roder said in a statement.
