NUS raises $300m through maiden green bond

It will finance projects under its Green Finance Network.

The National University of Singapore (NUS) has raised $300m through its inaugural green bond issuance, becoming the first Asian university to do so.

The fund will finance green projects under the university’s new Green Finance Network, which provides the criteria and guidelines for NUS to enter into green finance transactions.

Eligible projects under the five focus areas defined in the framework include green buildings or precincts, renewable energy and energy efficiency infrastructure, sustainable water and waste management, pollution control and prevention, and sustainable management of natural resources.

The 10-year bond will mature in 2030 and has a fixed coupon rate of 1.565%. DBS served as the sole lead manager and bookrunner for the deal.