AC Energy Inc., the power generation unit of Ayala Corp., launched additional $60-million senior green bonds due 2024 via a private placement to finance renewable energy expansion plans.
The latest issuance brings the total green bond issuance of AC Energy to $470 million, consisting of $360 million due 2024 and $110 million due 2029.
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“AC Energy’s green bonds further strengthen our liquidity and enable us to continue scaling up our renewable investments despite the challenging environment,” AC Energy president and chief executive Eric Francia said in a statement.
The green bonds were issued under AC Energy’s $1 billion medium term note program established in 2019 and will be listed on the Singapore Exchange Securities Trading Limited.
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