ACEN’s P10-B Green Bonds listing a hit

The Ayala Group’s power unit, ACEN successfully issued and listed its maiden P10-billion ASEAN Green Bonds on Thursday, boosting finance for its renewable energy investment and projects.

In a stock report, the company said the Green Bonds, with a fixed annual interest rate of 6.05 percent for a five-year tenor, was 8.6 times oversubscribed due to the strong participation from 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 of renewables capacity by 2030,” ACEN president and CEO Eric Francia said.

The Bonds are listed on the Philippine Dealing and Exchange Corp. platform under ACEN’s P30-billion Debt Securities Program registered with the Securities and Exchange Commission.

Green bonds are a type of debt paper sold to raise capital for projects that help fight climate change and benefit the environment.

Particularly, the proceeds from the bond issuance will be used to finance ACEN’s 283-MWdc San Marcelino Solar I farm in Zambales, the 42-MWdc expansion of the 72-MWdc Arayat-Mexico Solar farm in Pampanga, as well as the construction of the 133-MWdc Cagayan Solar farm in Lal-lo, Cagayan.

ACEN and its majority shareholder AC Energy and Infrastructure Corporation, through their respective special-purpose vehicles, have raised an aggregate of $1.6 billion of Green Bonds since 2019 to support financing for its renewable energy investments and projects.

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