C07744-2022

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)
Oct 18, 2022
2. SEC Identification Number
CS201010780
3. BIR Tax Identification No.
007-813-849-000
4. Exact name of issuer as specified in its charter
Citicore Energy REIT Corp.
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
11F Rockwell Santolan Town Plaza, 276 Col. Bonny Serrano Avenue, San Juan City Postal Code 1500
8. Issuer's telephone number, including area code
(02) 8826-5698
9. Former name or former address, if changed since last report
N/A
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 6,545,454,004
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.

Citicore Energy REIT Corp.CREIT

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

Citicore Energy REIT Corp. ("CREIT") to Issue ASEAN Green Bonds
Background/Description of the Disclosure

Citicore Energy REIT Corp. (CREIT or the Company) will be tapping the capital markets for the first time through the issuance of ASEAN Green Bonds in the fourth quarter of this year to accelerate its real estate asset portfolio growth. The planned exercise will be part of the Company’s levering up program – from “zero” debt currently to a minimum leverage of 35% of its invested capital – to fund the acquisition of new properties and sustain its growth momentum.

Per SEC Memorandum Circular No. 12 Series of 20181, ASEAN Green Bonds are ‘specific purpose bonds where proceeds will be exclusively applied to finance or refinance, in part or in full, new and/or existing eligible Green Projects, and that comply with the ASEAN Green Bond Standards’.

In its Registration Statement submitted to the Securities and Exchange Commission ("SEC") on 30 September 2022 and considered as filed by the SEC on 6 October 2022 upon completion of requirements, CREIT is offering Php 3 billion, with an oversubscription allotment up to Php 1.5 billion. The proceeds of the maiden bond issuance are intended to fund the acquisition of solar rooftop systems to be leased out to an affiliate solar power operator, and land parcels totaling about 500 hectares planned to host affiliate solar power developers and operators – both considered eligible Green Projects under the Citicore Power Inc. (“CPI”) Green Financing Framework.

Recently, the Company received a PRS Aa plus Rating, with a Stable Outlook, from the Philippine Rating Services Corporation (PhilRatings). The assigned credit ratings and corresponding outlook took into consideration CREIT's unique portfolio of renewable energy REIT assets that enjoy stable full occupancy from lessees with cycle-resilient operations; reputable Sponsors; strong profitability with high margins; and sound financial position and significant flexibility for expansion.

This capital recycling opportunity available to CREIT will provide it with more room to raise funds and further flex its financial muscle to enhance and sustain its long-term shareholder value creation.

CREIT’s sponsor, Citicore Renewable Energy Corp. (CREC), is one of the pioneers in solar power generation and looks to expand its renewable energy portfolio through other forms, such as hydro and wind, with a robust project pipeline of 1,500 MWdc in the next five years. These can then be potentially infused into CREIT to strengthen and diversify its portfolio of renewable energy-based leasing revenues.

CREIT is ultimately owned by Citicore Holdings Investment, Inc. (CHII), the same group behind one of the country’s leading construction, engineering and infrastructure conglomerate, Megawide Construction Corporation.
Other Relevant Information

Please see attached Press Release.
Filed on behalf by:
Name Jaime Del Rosario
Designation Corporate Secretary and Chief Information Officer