AC Energy Corporation announced that ACEN Finance Limited, the wholly-owned subsidiary, successfully set the terms of its U.S. dollar-denominated senior guaranteed undated fixed-for-life green bonds at an aggregate principal amount of US$400.0 million, with a fixed coupon of 4.0% for life with no step-up and no reset, priced at par.
The final order book volume exceeded by US$2.0 billion said the press release.
Pricing for the bonds was at 4.0%, which was 45 basis points tighter than the initial price guidance.
The Bonds will be issued by ACEN Finance Limited under its US$1.5-billion medium-term note program. The bond will be listed on the Singapore Exchange Securities Trading platform (SGX-ST).
The Philippine Securities and Exchange Commission (SEC) confirmed that the Bonds comply with the requirements under the ASEAN Green Bonds Circular and qualify as an ASEAN Green Bond Issuance.
“We are delighted by the overwhelming support for ACEN’s green bond offering. This helps accelerate our aggressive renewables expansion and enables the green-led recovery,” commented ACEN President and CEO Eric Francia.
Cora Dizon, Chief Finance Officer ACEN said “This is another landmark deal that demonstrates strong investor confidence in the Company’s strategic thrust to be a forerunner in the renewable energy sector and sustainable investing.”