FIRST Gen Corp. on Monday said that subsidiary Energy Development Corp. (EDC) had secured regulatory approval for the issuance of fixed-rate green bonds in the amount of up to P10 billion.
FIRST Gen Corp. on Monday said that subsidiary Energy Development Corp. had secured regulatory approval for the issuance of fixed-rate green bonds in the amount of up to P10 billion.In a disclosure, First Gen said the Securities and Exchange Commission had greenlit the second tranche of EDC 's fixed-rate Asean green bonds 'in the aggregate principal amount of P6 billion, with an oversubscription option of up to P4 billion, at an issue price of 100 percent of face value.
The offering consists of three-year bonds due in 2027, five-year bonds due in 2029, and seven-year bonds due in 2031, which will be priced within a range of 6.7478 percent, 6.8873 percent and 7.0626 percent, respectively.The tranche is part of EDC's shelf registration of P15 billion worth of Asean green bonds approved by the SEC in 2021. The first tranche of P5 billion was listed on the Philippine Dealing Exchange Corp. in June 2021.BDO Capital & Investment Corp. and BPI Capital Corp.
Green Bond Offer Approved By Regulator
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