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Equinix Raises S$650M in Second Singapore Green Bond Offering

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Equinix Singapore
Singapore photo by Hu Chen on Unsplash.

Digital infrastructure company Equinix Inc has issued S$650 million ($504.85 million) in green bonds in Singapore, its second such offering in the city-state this year as it expands sustainable financing to fund environmental projects.

The 2.90% senior notes due 2032 closed on Wednesday, following the company’s debut S$500 million Singapore green bond in March, Equinix said.

The latest issuance brings Equinix’s total global green bond offerings to approximately $9.5 billion, positioning it among the world’s largest corporate green bond issuers.

Proceeds will fund eligible green projects including green buildings, clean and renewable energy, energy efficiency, resource conservation, decarbonization solutions and climate-change adaptation initiatives, the company said.

Equinix’s allocation strategy covers project expenditures up to two years before bond issuance and three years following, allowing flexibility in deploying the green financing.

“Our second green bond issuance in Singapore underscores our commitment to sustainability and our dedication to responsibly operating our data centres,” said Yee May Leong, Equinix’s managing director for Singapore.

The financing will help accelerate innovations in energy-efficient infrastructure and clean energy to meet growing demands from artificial intelligence and emerging technologies like liquid cooling, aligning with Singapore’s Green Plan 2030, Leong added.

DBS Bank, HSBC, OCBC and Standard Chartered Bank served as joint global coordinators, joint lead managers and bookrunners for the offering. DBS Bank acted as sole green bond structuring agent.

The bond issuance reflects growing corporate appetite for sustainable financing in Asia as companies seek to fund environmental initiatives and meet sustainability targets.

Development Finance News – DevFiNews.com

Asian Development Bank To Establish Climate Technology Hub in Seoul

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DevFiNews
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ADB Seoul
Photo by Yohan Cho on Unsplash.

The Asian Development Bank (ADB) will establish a cooperative office in South Korea focused on climate technology collaboration, marking the first time in over a decade that a multilateral development bank has set up operations in the country.

Deputy Prime Minister and Finance Minister Choo Kyung-ho signed an agreement with ADB President Masato Kanda to establish the Korea Climate Technology Hub (K-Hub) in Seoul, the finance ministry said.

The hub will serve as a platform for sharing climate technology and policy expertise with Asian countries, facilitating new project connections and building regional networks for climate response cooperation.

The office represents the first multilateral development bank presence in Korea since the World Bank established its Seoul office more than 10 years ago. The government expects the hub to enhance Korea’s standing in international finance and development cooperation.

“I hope cooperation will expand in supporting the Asian region using advanced technologies such as AI,” Choo said during the virtual signing ceremony, according to the ministry statement.

The deputy prime minister also invited Kanda to attend the Asia-Pacific Economic Cooperation (APEC) finance and structural reform ministers’ meetings scheduled for October in Incheon.

“I appreciate Korea’s contributions and will positively consider the invitation to the APEC meeting,” Kanda responded.

The K-Hub will officially open after receiving National Assembly approval.

ADB recently created a vice president-level position overseeing external cooperation amid declining multilateralism, appointing former International Monetary Fund official Kim Sung-wook as Chief Partnership Officer.

Choo expressed hope for increased Korean representation at ADB, to which Kanda said he would “actively consider the advancement of excellent talented individuals.”

Development Finance News – DevFiNews.com

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