Listed power generation firm ACEN Corp. has secured further funding for its renewable energy (RE) goal after the successful issuance and listing of its maiden peso-denominated Asean Green Bonds.
In a disclosure to the Philippine Stock Exchange yesterday, the company said the green bonds were 8.6 times oversubscribed as a result of robust demand for the issuance, with strong participation from leading institutional investors.
The green bonds, listed on the Philippine Dealing and Exchange Corp., has an aggregate principal amount of P10 billion with a fixed interest rate of 6.0526 percent per annum for a five-year tenor, and is part of ACEN’s P30 billion debt securities program registered with the Securities and Exchange Commission.
“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 gigawatts of renewables capacity by 2030,” Eric Francia, ACENpresident and chief executive officer, said in a statement. –Jed Macapagal
