On Wednesday, AC ENERGY, Inc. called on investors to access the senior green bonds of the Ayala-led firm under its newly revamped $2-billion mid-term note scheme.
In a stock market filing, its parent company Ayala Corp. said the energy unit on Nov. 18 had mandated multiple financial firms as global organizer, lead managers and bookrunners of a set of fixed-income investor calls.
The dollar-denominated, senior renewable, fixed-for-life, perpetual notes will be provided by AC Energy unit AC Energy Finance International Ltd. Note program drawdown is through Regulation S, or offers sometimes used for securities offered outside the United States.
The issuer has confirmed a $400-million senior fixed-for-life green undated notes tender and a capped tender bid of its current $360-million senior unsecured green notes due 2024.
Combined tendering will expire on Nov. 26, 2020 at 4:00 p.m., London time. According to the company, the bid is under market conditions.”
AC Energy has spent more than $1 billion in green and thermal energy ventures in the Philippines and the region. It intends to reach 5 gigawatt attributable potential and produce at least 50% of renewable energy by 2025.
For the investor call on Wednesday, AC Energy tapped BPI Capital Corp. as its single global coordinator, joint lead manager and joint bookrunner for fresh notes and tendering.
The other joint representatives and bookrunners are Credit Suisse (Hong Kong) Ltd., Hong Kong, and Shanghai Banking Corp. Ltd., Singapore Branch UBS AG.