ACEN issues P10b green bonds

The maiden peso-dominated green bonds were 8.6 times oversubscribed.

ACEN has issued and listed its first peso-dominated ASEAN Green Bonds worth P10b which will be used to fund its renewable projects in the country.

In a statement, ACEN said the particular projects that will be supported by the green bonds are the 283-MWdc San Marcelino Solar I farm in Zambales, the 42-MWdc expansion of the 72-MWdc Arayat-Mexico Solar farm in Pampanga, as well as the construction of the 133-MWdc Cagayan Solar farm in Lal-lo, Cagayan. 

The green bonds have a fixed interest rate of 6.0526% annually for a five-year tenor under its P30b Debt Securities Programme that is registered with the Securities and Exchange Commission.

They were also 8.6 times oversubscribed, according to ACEN.

ACEN President and CEO Eric Francia said this will contribute in achieving the company’s goal to reach 20GW of renewables capacity by 2030.