ACEN Corp., through its subsidiary ACEN Renewables International, signed a $150 million green term loan facility with Sumitomo Mitsui Banking Corp. Singapore Branch (SMBC).
The company said in a disclosure to the Philippine Stock Exchange yesterday the move will enable ACEN’s strategic expansion into several key international markets, including Australia.
ACEN added the green term loan with a tenure of five years is arranged by SMBC which also acts as both lender and green loan coordinator.
Cecile Cruzabra, ACEN group treasurer, said in a statement the loan facility is a strategic addition to the company’s portfolio of green financings to also hit its Net Zero commitments.
“We are very pleased with the closing of this landmark US dollar/Australian dollar dual-currency loan with SMBC. This benchmark deal not only lends support to our momentum in expanding our international business, but is also a testament to the faith our banking partners place in our ability to execute on our vision,” Cruzabra added.
“This financing is a continuation of our partnership with ACEN across multiple renewable projects in the region, commencing with their first overseas project in Indonesia some years back…,” said Zia Azeez, SMBC head of renewables, utilities and infrastructure sector banking for Asia.
