AC Energy Corp., a unit of the Ayala Group, said Thursday it raised close to $1 billion in fresh capital in 2021, which it can use to fund its goal of 5,000 megawatts of renewable energy capacity by 2025.
AC Energy disclosed to the Philippine Stock Exchange wholly-owned subsidiary ACEN Finance Ltd. successfully issued US dollar-denominated Green Bonds amounting to $400 million, with a fixed coupon of four percent for life, no step-up and no reset and priced at par.
“The success of this fixed-for-life offering highlights the international investor community’s continuing confidence in ACEN and in our strategic objectives. We believe that this Green Bond issuance will further empower us to scale up RE investments and achieve our vision of becoming the largest listed renewable energy platform in Southeast Asia,” said ACEN president and chief executive officer Eric Francia.
The fresh capital included a P5.4-billion (US$111.2 million) stock rights offering, ₱10.3 billion (US$212.2 million) follow-on offering, and ₱11.9 billion (US$244.2 billion) in primary share investment by GIC affiliate Arran Investment Pte. Ltd. (Arran).