ACEN Corp. introduced on Thursday that it had efficiently issued and listed its maiden peso-denominated ASEAN inexperienced bonds with a principal quantity of P10 billion.
“We’re grateful for the sturdy help of Philippine institutional and retail buyers for the corporate’s maiden peso inexperienced bond issuance,” ACEN President and Chief Govt Officer Eric T. Francia stated in a press release.
ACEN, the listed vitality arm of the Ayala group, stated the inexperienced bonds are the primary tranche below its P30-billion debt securities program registered with the Securities and Alternate Fee. The bonds have a hard and fast rate of interest of 6.05% yearly for a five-year tenor maturing in 2027.
ACEN famous that the inexperienced bonds have been eight occasions oversubscribed, signaling strong demand and powerful participation from institutional buyers.
ASEAN inexperienced bonds adjust to the ASEAN inexperienced bonds requirements and proceeds are used completely to finance or refinance eligible inexperienced tasks.
Maria Corazon G. Dizon, ACEN’s chief monetary officer and treasurer, stated amid the “difficult macroeconomic atmosphere, we’re inspired by the enthusiastic take-up of our bonds by the investing group.”
“Our group is among the nation’s largest issuers of inexperienced bonds, and we’re pleased to contribute to the event of our nation’s debt capital market with our maiden peso inexperienced bond issuance,” she added.
ACEN will use the proceeds to fund its numerous renewable tasks within the Philippines.
These tasks are the 283-megawatts of direct present (MWdc) San Marcelino Photo voltaic I farm in Zambales, 42-MWdc growth of the 72-MWdc Arayat-Mexico photo voltaic farm in Pampanga, and the development of the 133-MWdc photo voltaic farm in Lal-lo, Cagayan.
Up to now, ACEN and its majority shareholder AC Vitality and Infrastructure Corp. have raised an mixture of $1.6 billion by way of inexperienced bonds since 2019 to fund renewable vitality tasks.
On Thursday, shares in ACEN closed 2.64% decrease at P6.28 apiece. — Ashley Erika O. Jose