The Securities and Exchange Commission (SEC) has approved the sale of ASEAN green bonds by Citicore Energy REIT Corp. (Creit).
This relates to Creit’s planned P4.5 billion fixed-rate bond sale, essentially debt papers that comply with ASEAN clean energy standards whose proceeds exclusively finance or refinance, in part or in full, new and existing green projects.
Such 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.
Creit projects to net up to P4.42 billion from the sale, assuming the oversubscription option is fully exercised.
Proceeds will be used for the acquisition of a solar rooftop system, a solar power operator as well as properties for lease to solar power developers.
The bonds will be offered at face value from January 30 to February 3, in time for listing at the Philippine Dealing and Exchange Corp. by February 10, according to the timetable the company submitted to the Securities and Exchange Commission.
Citicore Energy REIT has tapped PNB Capital and Investment Corp. and SB Capital Investment Corp. as joint issue managers, joint lead underwriters and joint bookrunners for this endeavor.
