The Securities and Exchange Commission (SEC) has considered favorably the shelf registration of ACEN Corporation for ASEAN Green Bonds worth P30 billion.
In its September 6, 2022 meeting, the Commission En Banc resolved to render effective the registration statement of ACEN covering up to P30 billion of ASEAN Green Bonds, subject to the company’s compliance with certain remaining requirements.
ACEN may offer the bonds in tranches within three years, with the initial tranche consisting of up to P10 billion of green bonds due 2027.
ASEAN Green Bonds refer to bonds and sukuk which comply with the ASEAN Green Bonds Standards, where the proceeds will be exclusively applied to finance or refinance, in part or in full, new and/or existing eligible green projects.
Eligible green projects include those for renewable energy, energy efficiency, pollution prevention and control, environmentally sustainable management of living natural resources and land use, clean transportation, climate change adaptation, and green buildings.
Proceeds from the offer is expected to amount to P9.87 billion, which the Ayala-led energy company will use for financing or refinancing new or existing eligible green projects, in line with its Green Bond Framework.
ACEN tapped BDO Capital and Investment Corporation and BPI Capital Corporation as joint issue managers, who will also work alongside RCBC Capital Corporation and SB Capital Investment Corporation as joint lead underwriters and bookrunners.