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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.
“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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