Philippines’ ACEN to offer P10b green bonds
This will fund three major solar farms with a combined capacity of about 460MW.
Philippine firm ACEN announced it has secured approval of the Securities and Exchange Commission for the maiden issuance of peso-denominated Green Bonds.
The bonds have an aggregate principal amount of P10b with a fixed annual interest of 6.05% due September 2027.
This forms part of ACEN’s three-year shelf registration of up to P30b in debt securities.
Proceeds from the Green Bonds will be used to either finance or refinance new or existing green projects of the company.
In particular, the proceeds will be earmarked for 283MWdc San Marcelino Solar Farm in Zambales, the 42MWdc expansion of the Arayat-Mexico Solar Farm in Pampanga, and the construction of the 133MWdc first phase of the Cagayan Solar Farm in Lalo, Cagayan.
The offer period for the Green Bonds will run from 9 to 15 September 2022. The target listing date is 22 September 2022.