M&T Investments Pte. Ltd.’s S$145 Million Sustainability-Linked Notes

Allen & Gledhill advised United Overseas Bank Limited and DB International Trust (Singapore) Limited on the matter.

M&T Investments Pte. Ltd. issued S$109 million 2.85% Class A1 sustainability-linked notes due 2026 and S$36 million 3.65% Class A2A sustainability-linked notes due 2026. 

The Notes are backed by proceeds received from the sale, deregistration and/or lease of vehicles sold by Lion City Rentals Pte. Ltd, making them the first auto asset-backed securitisation in Singapore. The Notes are also the first sustainability-linked asset-backed securities in Singapore.

UOB acted as sole arranger and programme dealer for the Notes. DB International Trust acted as note trustee and security trustee.

M&T Investments Co. M & T Investments Company provides commercial banking services. 

Advising UOB were Allen & Gledhill Partners Magdalene Leong (Picture), Fabian Tan, Andrew Chan, Jo Tay and Kelvin Wong. Advising DB International Trust was Allen & Gledhill Partner Daselin Ang.

Involved fees earner: Daselin Ang – Allen & Gledhill LLP; Andrew Chan – Allen & Gledhill LLP; Magdalene Leong – Allen & Gledhill LLP; Fabian Tan – Allen & Gledhill LLP; Jo Tay – Allen & Gledhill LLP; Kelvin Wong – Allen & Gledhill LLP;

Law Firms: Allen & Gledhill LLP;

Clients: DB International Trust (Singapore) Limited; United Overseas Bank Limited Co.;

Sonia Carcano

Author: Sonia Carcano