AC Energy, an Ayala-operated energy company, has given a $400 million value to its senior perpetual fixed-for-life green bond issuance. This will have a fix coupon rate of 5.65% with no reset and no step-up. As per the company, this is the first-ever US dollar-denominated fixed-for-life green bond ever issued in the global market and it will be issued by the AC Energy Finance International Ltd., a wholly-owned subsidiary of AC Energy. AC Energy will also guarantee the said issuance. If you are hoping to find something that’s useful and can affect your investment in AC, this is it!
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AC Energy disclosed that the bonds will be listed in SGX-ST. The Philippine Securities and Exchange Commission also certified these bonds under ASEAN Green Bonds Standards on November 18, 2019. The plan of AC Energy is to deploy the funds for renewable energy expansion across Asia Pacific Region and this will include the Philippines, Vietnam, Indonesia, Australia, India, Myanmar, and so on. To give you a quick background, the ASEAN Green Bonds Standards administrates the ASEAN capital markets in finding green finance to give back up to sustainable regional growth and find investors who are interested in green investments.
The ASEAN standards mentioned above plays a part in developing green finance for the ASEAN region. They are actively in collaboration with the International Capital Market Association. Since AC Energy is the energy segment of AC, it plays a big role now that it is one of the energy companies that are fast-growing. This company has more than $1 billion of invested equity in renewable and thermal energy here in the Philippines and the nearby countries.
Ayala Corporation (AC) saw a growth in its net income by 7% this third quarter of the year 2019. The firm believed that this was due to the sustained contribution of its major units such as power and banking segments. In a disclosure statement, AC said that from July to September, the net income reached P8.3 billion. This has brought the attributable income for the nine-month period to P46.16 billion or double the P23.86 billion generated last year during the same period. AC Energy, Inc. reported an increase in profit to P24.3 billion at the end of the nine-month period. Last year, its profit was at P2.8 billion. This is a major step for AC Energy as there was a really big difference from the prior year performance.