General Announcement::AC Energy Successfully Launches First Ever Perpetual Fixed-for-life Green Bond

Issuer & Securities

Issuer/ Manager
Stapled Security

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
27-Nov-2019 11:06:32
Announcement Sub Title
AC Energy Successfully Launches First Ever Perpetual Fixed-for-life Green Bond
Announcement Reference
Submitted By (Co./ Ind. Name)
AC Energy, Inc. / Irene Maranan
Head, Corporate Communications and Sustainability
Effective Date and Time of the event
26/11/2019 00:00:00
Description (Please provide a detailed description of the event in the box below)
AC Energy Inc. ("AC Energy"), Ayala Corporation's energy platform, successfully set the terms of its inaugural US dollar denominated senior perpetual fixed-for-life (non-deferable) green bond issuance at an aggregate principal amount of US$400 million with a fixed coupon of 5.65% per annum for life with no step-up and no reset, priced at par (the "Bonds"). This represents the first USD dollar-denominated perpetual fixed-for-life green bond ever issued globally.

The Bonds will be issued by AC Energy Finance International Limited, a wholly-owned subsidiary of AC Energy, and will be guaranteed by AC Energy. The Bonds will be listed on SGX-ST and were certified under the ASEAN Green Bonds Standards by the Philippine Securities and Exchange Commission on 18 November 2019.

AC Energy plans to deploy the funds for renewable energy expansion across the Asia Pacific region to include the Philippines, Indonesia, Vietnam, Myanmar, India and Australia, among others.

Other Relevant Information

AC Energy is one of the fastest growing energy companies with over $1 billion of invested and committed equity in renewable and thermal energy in the Philippines and around the region. The company aspires to achieve 5 GW of attributable capacity and generate at least 50% of total energy output from renewables by 2025.

These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or in any other jurisdiction where it is unlawful to do so. The securities to which these materials relate have not been and will not be registered under the U.S. Securities Act of 1933 (the Securities Act ) or with any securities regulatory authority of any state of the United States or other jurisdiction and may not be offered, sold, pledged or otherwise transferred in the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the Securities Act), except pursuant to registration or an exemption from the registration requirements of the Securities Act and in compliance with any applicable state securities laws.

The Notes are not and will not be registered with the Philippine Securities and Exchange Commission. Any future offer or sale of the securities in the Philippines is subject to the registration requirements under the Philippine Securities Regulation Code, unless such offer or sale qualifies as a transaction exempt from these requirements.