MANILA - AC Energy Corporation's wholly-owned subsidiary, ACEN Finance Limited successfully issued US dollar-denominated Green Bonds worth $400 million.
The bonds are non-deferrable and have a fixed coupon of 4 percent for life, with no step-up and no reset, priced at par, AC Energy said.
Including its other fundraising initiatives, the Ayala-led energy player said it has now raised a total of close to $1 billion in fresh capital this year.
The company said it can use this to fund its goal of 5,000 megawatts (MW) in attributable renewable energy capacity by 2025.
“We believe that this Green Bond issuance will further empower us to scale up RE investments and achieve our vision of becoming the largest listed renewable energy platform in Southeast Asia,” said ACEN President and CEO Eric Francia.
“This shows investors’ faith in the Company’s fundamentals and their support for our aspiration to reach 5,000 MW in renewable attributable capacity by 2025,” said ACEN Chief Finance Officer Cora Dizon.
Last May, AC Energy said it began construction of the largest wind farm in the country.