ACEN will likely list its planned offer and issuance worth P10 billion in fixed-rate green bonds with a five-year tenor at the Philippine Dealing & Exchange Corp. (PDEx).
In a disclosure to the Philippine Stock Exchange yesterday, ACEN said it is authorized to file a registration statement covering the debt securities program from which the fixed-rate green bonds will be issued as the transaction will also require approvals from both the Securities and Exchange Commission as well as from PDEx.
ACEN’s debut peso bond issue will enable it to diversify funding sources by tapping into the Philippine debt capital markets to fund its expansion in the local renewable energy sector.
The P10 billion is the first tranche of the shelf registration program of up to P30 billion in debt securities.
“Since our debt levels remain very manageable, we are taking this opportunity to issue peso green bonds to fund our renewable energy expansion in the country. At the same time, we are able to contribute to the development of the Philippine debt capital market and provide local investors a chance to invest in sustainable financing instruments,” said Ma. Corazon Dizon, ACEN chief financial officer and treasurer, in a statement.
ACEN said it will utilize the P10 billion to fund three solar projects with a total capacity of 458 megawatts.
