London Stock Exchange welcomes Sindicatum Renewable Energy Company Pte limited
Sindicatum Renewables celebrated the listing of three local-currency green bonds on London Stock Exchange at a market open ceremony in London this morning. The company, led by CEO Assaad Razzouk, is an award-winning developer and operator of clean energy projects in Asia. The three green bonds, denominated in Indian Rupee (INR) and Philippine Peso (PHP), totalled an approximate USD 60 million equivalent as at the respective issue dates. The proceeds have been used, or are in the process of being used, to finance renewable energy projects in India and the Philippines as well as refinance certain existing indebtedness. It is expected that over 250,000 people will benefit from improved service levels through nearly two billion kWh net electricity exports by the projects in Philippines and India.
The Green Bonds were issued in accordance with the International Capital Market Association (ICMA)'s Green Blond Principles 2017 and the ASEAN Green Bond Standards (GBS). The INR denominated Green Bonds, which were the first ever issued in accordance with these standards to be admitted to the ISM Green Bond segment. Sindicatum Renewables is the first ever offshore private sector corporate entity to issue a 7-year INR Bond. The PHP- denominated Green Bond is the first to list on London Stock Exchange's International Securities Market.
GuarantCo, a Private Infrastructure Development Group company, provided the 100% guarantee in support of the Green Bonds.
There have been 89 Green Bond listings on London Stock Exchange, which have raised over $27 billion across nine currencies, confirming London’s status as a leading international sustainable finance centre