PSA International has priced $600 million worth of guaranteed green notes under its US$5 billion ($6.43 billion) global medium term note programme.
The notes, which carry an interest rate of 2.23% per annum, will mature in 2035. The notes are currently expected to be issued on Aug 20.
PSA has a credit rating of Aa1 (stable) by Moody’s and its notes have been rated the same.
The proceeds from the notes will be used exclusively to finance or refinance new or existing projects which fall within PSA’s eligible green project categories under the company’s Green Finance Framework 2025. Projects subject to refinancing will have a two-year lookback period.
DBS Bank and United Overseas Bank (UOB) were appointed as the joint lead managers and bookrunners for the notes.
