AC Energy Inc. through a private placement, has launched a $60- million tap issuance on its five-year senior green bonds due 2024 which will fund more renewable energy projects in its portfolio.
This brings its total green bond issuance to $470 million, consisting of $360 million due 2024 and $110 million due 2029.
The private placement was priced in line with current market prices as AC Energy locked in competitive rates wherein the Hongkong and Shanghai Banking Corporation Ltd. served as dealer for the bonds.
“AC Energy’s Green Bonds further strengthen our liquidity and enable us to continue scaling up our renewable investments despite the challenging environment. We are committed to transition to a low carbon portfolio and work towards our goal of reaching 5,000 megawatts (MW) of renewables capacity by 2025,” Eric Francia, president and chief executive officer, said in a statement.
