Vena Energy, Asia-Pacific’s leading renewable IPP, announced today that it has won the “Best Green Bond” award in Singapore at the annual Triple A Country Awards 2020 organized by The Asset. The award recognizes Vena Energy for its inaugural bond and the first ever corporate US dollar green bond issuance from a Singapore-headquartered company.
“We are honored to have received the Best Green Bond award, and we would like to extend our appreciation to our financial partners, and our employees that worked behind-the-scenes to deliver our inaugural green bond to the market,” said Nitin Apte, CEO of Vena Energy. “We believe that green bonds can accelerate the energy transition to renewable energy, by financing solar and wind projects that will also go on to create jobs and boost economic growth across the Asia-Pacific region.”
The Green Bond, rated BBB- by Standard & Poor’s and listed on the Singapore Exchange, is issued under Vena Energy’s Euro Medium Term Notes Programme established in November 2019. The Green Bond proceeds have been used to refinance existing corporate loans for the development, construction, and operation of Eligible Green Projects in accordance with Vena Energy’s Green Financing Framework, which was established in 2018 to enhance the company’s planning and disclosure practices as well as providing transparency and accountability to all its stakeholders. Vena Energy’s Green Financing Framework has been independently evaluated by Vigeo Eiris and Japan Credit Rating Agency, receiving the highest level of assurance from both agencies.
The Green Bonds issuance was facilitated by Crédit Agricole CIB, DBS Bank Ltd, ING and MUFG serving as Joint Global Coordinators and Joint Lead Managers. ABN AMRO, Banca IMI, BNP PARIBAS and SMBC Nikko served as Joint Lead Managers. Crédit Agricole CIB and SMBC Nikko also served as Joint Green Structuring Advisors.
“We are honored to act as Green Structuring Advisor, Global Coordinator, Bookrunner and Lead Manager on the first-ever corporate USD Green Bond issuance from a Singapore-headquartered company. Winning this prestigious award is a further testimony to Vena Energy’s commitment in the ever-evolving Green financing space and to play a leading role in developing and generating clean renewable energy to accelerate the transition to a low carbon economy across the Asia-Pacific region,” said Mr. Ravi Nichani, Executive Director, Debt Origination & Advisory at Crédit Agricole Corporate and Investment Bank.
“DBS has had the privilege of working with Vena Energy for its inaugural USD corporate green bond, as well as a series of other sustainability-linked transactions over the years. This green bond not only helped deepen the Asian bond market, but also paved the way for more issuers to tap debt markets to finance their efforts to build towards a more sustainable future. As a leading renewable energy developer in Asia, Vena Energy continues to make promising headway in several sustainable projects across the region, and its latest award win from The Asset reaffirms this,” said Clifford Lee, Global Head of Fixed Income, DBS.
“Vena Energy’s USD Green bond was a very well executed debut offering and truly deserves the Award for ‘Best Green Bond’ in Singapore. There was strong feedback for the bond offering from global real money investors and the issuer achieved a very good outcome in terms of size and price; despite concerns surrounding the emerging coronavirus outbreak. SMBC Nikko is honoured to have been part of this landmark bond transaction” said Minoru Sakamoto, Head of Capital Markets Asia-Pacific at SMBC Nikko.
“We are delighted that Vena Energy’s inaugural green bond issuance has been awarded “Best Green Bond” in Singapore at The Asset Triple A Country Awards. This issuance is truly unique among Asian Emerging Markets bonds, offering global investors an opportunity to participate in an investment-grade green credit that is well-diversified across Asia and backed by high quality contracted revenues. Certainly, an outstanding achievement for a best-in-class Asian renewable pure-play, and ING is proud to have partnered Vena Energy along this journey for a more sustainable future.” said Mr. Kelvin Chong, Head of South and Southeast Asia Debt Capital Markets at ING.
“MUFG is excited to have had the distinction of working with Vena Energy on its inaugural award-winning green bond issuance. The landmark offering from Asia’s market leading renewable energy company set a strong example for issuers in the region and provides investors an opportunity to invest in a pure play ESG focused company” said Mr. Augusto King, Head of Debt Capital Markets at MUFG Securities Asia.
Together with the “Best Green Bond” Award, Vena Energy has also clinched three “Renewable Energy Deal of the Year” awards for its solar and wind projects in Taiwan and the Philippines, in the recent Triple A infrastructure Awards 2020, also organized by The Asset.
