Singapore-based  GLP has raised US$850m (€699m) via a green bond issue, exceeding the company’s initial target size of US$500m.

The issuance marks GLP’s return to the international public US$ bond markets after more than five years and represents the first-ever offering of US$ green subordinated perpetual securities by an APAC corporate issuer and the largest US$ green subordinated perpetual offering globally to date, GLP said.

The US$100bn asset manager – which invests in logistics, real estate, infrastructure, finance and related technologies globally – said the proceeds will be used to refinance eligible green projects. 

Edwin Tey, global treasurer of GLP, said: “We are very pleased to see the high level of investor confidence and the strong market response to our first-ever perpetual green bond.

“This follows our US$658m sustainability-linked loan completed in February 2021 and serves to reinforce GLP’s commitment to make sustainability a core component of our business.”

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