ACEN completes P10-B bond issue

BY EIREENE JAIREE GOMEZ

2022-09-23T07:00:00.0000000Z

2022-09-23T07:00:00.0000000Z

The Manila Times

https://digitaledition.manilatimes.net/article/281878712237674

Corporate News

ACEN on Thursday disclosed that it has issued and listed its maiden pesodenominated Asean green bonds under its P30-billion Debt Securities Program registered with the Securities and Exchange Commission. In a disclosure to the local bourse, ACEN said the P10-billion Asean green bond due in 2027 has a fixed interest rate of 6.0526 percent per annum for a five-year tenor. The green bonds, which are now listed on the Philippine Dealing and Exchange Corp. platform was 8.6 times oversubscribed as a result of robust demand for the issuance, with strong participation from leading institutional investors. “We are grateful for the strong support of Philippine institutional and retail investors for the company’s maiden peso green bond issuance. The successful offering will help ACEN realize its vision of reaching 20 GW (gigawatt) of renewables capacity by 2030,” said Eric Francia, ACEN president and chief executive officer. According to ACEN, the proceeds from the bond issuance will be used to finance the company’s renewable energy projects in the Philippines, particularly the 283-megawatt of direct current (MWdc) San Marcelino Solar I farm in Zambales, the 42-MWdc expansion of the 72-MWdc ArayatMexico Solar farm in Pampanga, as well as the construction of the 133-MWdc Cagayan Solar farm in Lal-lo town.

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