C07113-2022

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Sep 22, 2022
2. SEC Identification Number
39274
3. BIR Tax Identification No.
000-506-020-000
4. Exact name of issuer as specified in its charter
ACEN CORPORATION
5. Province, country or other jurisdiction of incorporation
Makati City
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
35th Floor, Ayala Triangle Gardens Tower 2, Paseo de Roxas corner Makati Avenue, Makati City Postal Code 1226
8. Issuer's telephone number, including area code
(02) 7730 6300
9. Former name or former address, if changed since last report
AC Energy Corporation
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares 39,677,394,773
11. Indicate the item numbers reported herein
Item 9 - Other Events

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

ACEN CORPORATIONACEN

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

ACEN Successfully Issues PhP10 Billion in Green Bonds, 8.6 Times Oversubscribed
Background/Description of the Disclosure

• ACEN has issued its maiden peso ASEAN Fixed-Rate Green Bonds, now listed on the PDEx
• The PhP10.0-billion ASEAN Green Bond due 2027 has a fixed interest rate of 6.0526% per annum for a five-year tenor
• The Green Bonds were 8.6 times oversubscribed, reflecting strong participation from leading institutional investors
• Sustainalytics provided a second-party opinion; PhilRatings rated the Green Bonds PRS Aaa, the highest possible rating

22 September 2022 – ACEN today disclosed that it has successfully issued and listed its maiden peso-denominated ASEAN Green Bonds at an aggregate principal amount of PhP10.0 billion, with a fixed interest rate of 6.0526% per annum for a five-year tenor, under its PhP30.0 billion Debt Securities Program registered with the SEC. The Green Bonds were 8.6 times oversubscribed as a result of robust demand for the issuance, with strong participation from leading institutional investors. The Green Bonds are listed on the Philippine Dealing and Exchange Corp. (PDEx) platform.

“We are grateful for the strong support of Philippine institutional and retail investors for the company’s maiden peso green bond issuance. The successful offering will help ACEN realize its vision of reaching 20 GW of renewables capacity by 2030,” said ACEN president and CEO Eric Francia.

“Amidst the challenging macroeconomic environment, we are encouraged by the enthusiastic take-up of our bonds by the investing community. Our group is one of the country’s largest issuers of green bonds, and we are happy to contribute to the development of our nation’s debt capital market with our maiden peso green bond issuance,” said ACEN CFO and Treasurer Cora G. Dizon.

The Green Bonds comply with ASEAN Green Bond Standards, which require proceeds to be used exclusively for the funding of eligible green projects. ACEN engaged Sustainalytics for a second-party opinion on the Green Bonds’ alignment with the International Capital Market Association’s Green Bond Principles. The Green Bonds have been rated PRS Aaa by the Philippine Rating Services Corporation, the highest possible rating.

In accordance with ACEN’s Green Bond Framework, the proceeds from the bond issuance will be used to finance ACEN’s renewable energy projects in the Philippines, particularly the 283-MWdc San Marcelino Solar I farm in Zambales, the 42-MWdc expansion of the 72-MWdc Arayat-Mexico Solar farm in Pampanga, as well as the construction of the 133-MWdc Cagayan Solar farm in Lal-lo, Cagayan.

BDO Capital & Investment Corporation and BPI Capital Corporation are the Joint Issue Managers for the Green Bonds, while BDO Capital, BPI Capital, RCBC Capital Corporation, and SB Capital & Investment Corporation are the Joint Lead Underwriters and Bookrunners for the transaction.

ACEN and its majority shareholder AC Energy and Infrastructure Corporation (ACEIC), through their respective special-purpose vehicles, have raised an aggregate of US$1.6 billion of Green Bonds since 2019 to support financing for its renewable energy investments and projects.

DISCLAIMER: This disclosure may contain forward-looking statements that are subject to risk factors and opportunities that may affect ACEN’s plans to complete the transaction/s that are the subject of this disclosure. Each forward-looking statement is made only as of the date of this disclosure. Outcomes of the subject transaction may differ materially from those expressed in the forward-looking statements included in this disclosure.
Other Relevant Information

About ACEN

ACEN is the listed energy platform of the Ayala Group. The company has ~4,000 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India, and Australia, with a renewable share of 87%, which is among the highest in the region.

ACEN’s aspiration is to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 20 GW in renewables capacity by 2030. In 2021, ACEN announced its commitment to achieve Net Zero greenhouse gas emissions by 2050. This will involve the early retirement of its remaining coal plant by 2040 and transition the company’s generation portfolio to 100% renewable energy by 2025.

www.acenrenewables.com

For inquiries and more information, please contact:
ACEN Investor Relations
Email: [email protected]
Filed on behalf by:
Name Alan Ascalon
Designation Vice President/Asst. Corporate Secretary