CREIT’s ₧4.5-B green bond offering secures nod of SEC

The Securities and Exchange Commission (SEC) has approved Citicore Energy REIT Corp.’s (Creit) issuance of ASEAN Green Bonds.

In its January 19 en banc meeting, the SEC approved the registration statement of Citicore Energy REIT covering up to P4.5 billion of fixed-rate ASEAN Green Bonds.

ASEAN Green Bonds are debt papers, which comply with the ASEAN Green Bonds Standards, where the proceeds will be exclusively applied to finance or refinance, in part or in full, new and existing eligible green projects.

Eligible green 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.

The company expects to net up to P4.42 billion from the offer, assuming the oversubscription option is fully exercised. Proceeds will be used for the acquisition of solar rooftops system for lease, a solar power operator, as well as the acquisition of properties that will be leased to solar power developers and operators.

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 SEC.

Citicore Energy REIT tapped PNB Capital and Investment Corp. and SB Capital Investment Corp. as the joint issue managers, joint lead underwriters, and joint bookrunners for the offer.

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