NextGen Day

The Securities and Exchange Commission (SEC) has given ACEN Corporation’s shelf registration for Asean green bonds worth PHP30 billion favorable consideration.

The commission en banc decided to make the registration statement of ACEN covering up to PHP30 billion of Asean green bonds effective at its meeting on September 6—providing the company complies with a few further conditions.

ACEN may offer the bonds in three-year increments, with the initial tranche including up to PHP10 billion in green bonds due in 2027.

Asean green bonds are bonds and sukuk that adhere to the Asean green bonds requirements and whose proceeds are solely used to fund or refinance new and/or existing qualifying green projects, in whole or in part.

Green initiatives for clean transportation, efficient energy usage, pollution prevention and control, environmentally sustainable management of live natural resources and land use, and green structures are all eligible.

The Ayala-led energy business would use the projected PHP9.87 billion in proceeds from the offering to finance or refinance new or existing qualifying green projects in accordance with its green bond framework.

As joint issue managers, RCBC Capital Corporation and SB Capital Investment Corporation will collaborate with BDO Capital and Investment Corporation and BPI Capital Corporation, who will also serve as joint lead underwriters and book-runners.

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