UPDATE: Singapore debt listings Wednesday: Nanyang Technological University rate below guidance; Jiangning Jingkai Overseas

Singapore one dollar bill

These are entities which announced debt listing confirmations in Singapore on Wednesday, 20 October 2021: Nanyang Technological University (NTU) and Jiangning Jingkai Overseas Investment.

This item was originally published on Wednesday, 20 October 2021 at 11:20 a.m. SGT; it has since been updated to include Nanyang Technological University (NTU).

Nanyang Technological University

Nanyang Technological University (NTU) said Wednesday its S$650 million 2.185 percent sustainability-linked notes due 2036 would be listed on SGX’s bond market on Thursday. The interest rate came in below the initial price guidance of around 2.35 percent, according to a client note seen by Shenton Wire.

The proceeds will be used for the university’s sustainability research and initiatives, delivery of educational programs and generational upgrade of infrastructure, the client note said.

The sustainability performance target will be to achieve carbon neutrality for the NTU Yunnan Campus by 2035, while aiming to reduce gross carbon emissions intensity by at least 50 percent from the 2019 baseline, the client note said. The observation date for the target is end-2035, the note said.

The notes, which will trade in Singapore dollars, will be in denomination of S$250,000, which is also the minimum board lot size, NTU said in a filing to SGX.

The lead managers and bookrunners of the notes are DBS Bank and UOB, the filing said.

Read more: Nanyang Technological University pricing 15-year sustainability-linked bonds

Jiangning Jingkai Overseas Investment

Jiangning Jingkai Overseas Investment said Wednesday its US$210 million 2.9 percent bonds due 2022 (ISIN code: XS2381154009) would be listed on SGX’s bond market on Thursday.

The notes, which will trade in U.S. dollars, will be in denominations for US$200,000, which is also the minimum board lot size, the company said in a filing to SGX.

The lead managers and bookrunners for the notes are China International Capital Corp., Huatai International and Central Wealth Securities Investment, the filing said.

Jiangning Jingkai Overseas Investment is a wholly owned offshore subsidiary of China-based Nanjing Jiangning Economic & Technological Development Corp. (NJETDC), which is around 89 percent owned by the Nanjing Jiangning Economic & Technological Development Zone Administrative Committee (Jiangning ETDZ Committee), with the remainder held by the district government, according to a Fitch Ratings statement from October 2020. NJETDC is responsible for Jiangning ETDZ’s urban and industrial park development.

 

Follow Shenton Wire on Telegram to receive alerts on your phone