AC Energy, Inc. has named the financial institutions that will be involved in its proposed three-year green notes offering, which is subject to market conditions, its parent company Ayala Corp. said on Monday.
The planned notes offering are fixed for life or non-deferrable senior perpetual non-call instruments, and will be issued by AC Energy Finance International Ltd., a wholly owned subsidiary of AC Energy. The notes will be guaranteed by AC Energy.
AC Energy mandated BPI Capital as sole global coordinator; and BPI Capital, CLSA, Credit Suisse and UBS as joint lead managers and joint bookrunners.
As a requirement for the notes, AC Energy will be submitting its pro-forma financial information as at Sept. 30, 2019 and for the nine-month period ended Sept. 30, 2019 and year ended Dec. 31, 2018 as part of the offering circular.
AC Energy, one of the country’s fastest growing energy companies, has more than $1 billion of invested and committed equity in renewable and thermal energy in the Philippines and in the region.
The company aims to surpass 5 gigawatts of attributable capacity and generate at least half of that energy from renewables by 2025. — Victor V. Saulon