by Theleaders-Online | October 1, 2019 2:58 am
KUALA LUMPUR: CIMB Bank Bhd has recently successfully priced its US$680-million Formosa & Reg S Sustainable Development Goals Bond (SDG Bond).
CIMB’s SDG Bond marks the first-ever SDG Bond to be issued by a Malaysian and ASEAN issuer in the Reg S international capital markets, and also the first to be issued in the Formosa market, the bank said in a statement Monday.
“The SDG bond was well received, reflecting the trend in global sustainable investing assets, which surged to US$30 trillion in 2018. Banks took up more than 76 per cent of the SDG Bond, with the rest subscribed by securities firms and fund managers,” it said.
The SDG Bond — a five-year floating rate note priced at a spread of 78 basis points above US dollar three months LIBOR – will be issued on Oct 9, 2019 under CIMB Bank’s existing US$5 Billion Euro Medium-Term Note Programme.
Applications will be made to list the SDG Bond on Bursa Malaysia (Exempt Regime), SGX-ST, and the Taipei Exchange.
The SDG Bond is yet another aspect of CIMB Group’s commitment to sustainability, one of the key pillars of CIMB Group’s growth strategy, Forward23.
In accordance with its SDG Bond framework, CIMB Bank will channel the SDG Bond proceeds to various impactful sectors that support seven UN SDGs specifically chosen by CIMB Group, namely Decent Work and Economic Growth; Industry, Innovation & Infrastructure; Reduced Inequalities; Responsible Consumption & Production; Climate Action; Life on Land; and Peace, Justice & Strong Institutions.
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