SEC greenlights EDC’s $172.8b green bond offering

This is the second tranche of the EDC Fixed Rate ASEAN Green Bonds.

The Energy Development Corporation (EDC) has received the approval of the Securities and Exchange Commission (SEC) to offer for sale and contribution of green bonds worth $172.8m (P10b).

In a disclosure, EDC’s parent firm First Gen said the SEC issued a Certificate of Permit to Offer Securities for Sale in connection with the sale of the second tranche of the $259.2m (PHP15b) EDC Fixed Rate ASEAN Green Bonds.

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The second tranche consists of three-year bonds due in 2027, five-year bonds due in 2029, and seven-year bonds due in 2031.

The bonds have an aggregate principal amount of $103.7m (P6b), with an oversubscription option of up to $69.1m (PHP4b), with an issue price of 100% of face value.

$1 = PHP57.87