Digital infrastructure company Equinix has issued S$650 million ( US$504.85 million ) in green bonds in Singapore, a move that builds on its debut S$500 million Singapore green bond offering in March.

The company, it shares, will use the green bonds to further advance its “commitment to sustainability leadership and reducing its environmental impact globally”. 

The S$650 million 2.90% senior notes offering, due 2032, closed on August 21. Including this latest issuance, the company has issued a total of approximately US$9.5 billion of green bonds globally, making it one of the top corporate issuers of green bonds in the world. 

Proceeds from the offering will be allocated towards future eligible green projects, the company points out, which will include green buildings, clean and renewable energy, energy efficiency, resource conservation, decarbonization solutions and climate-change adaptation.

The company’s allocation strategy includes covering project expenditures up to two years before the issuance of the green bonds and three years following the green bond issuance.

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

“Our second green bond issuance in Singapore underscores our commitment to sustainability and our dedication to responsibly operating our data centres,” says Yee May Leong, Equinix’s managing director for Singapore. “By using green financing, we can accelerate innovations in energy-efficient infrastructure, clean and renewable energy, and address the growing demands of AI [artificial intelligence] and other emerging technologies like liquid cooling, all in alignment with the Singapore Green Plan 2030.”