C00145-2023

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)
Jan 9, 2023
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 secures its largest syndicated green term loan facility for Australia platform
Background/Description of the Disclosure

6 January 2023 – ACEN announced today that its subsidiary, ACEN Australia, signed a syndicated green term loan facility with major international banks worth a total of AU$277 million, the platform’s largest green term loan facility to date. The loan will provide capital financing for ACEN’s renewable energy portfolio in Australia, which will be a significant contributor to the company’s strategic aspiration to grow its renewables capacity to 20 GW by 2030.

Comprising the syndicate are Bank of China (BOC) in Manila and Hong Kong, CTBC Bank in Manila and Singapore, and Standard Chartered Bank in Australia.

Bank of China (Hong Kong) Limited (BOCHK) was the Green Loan Structuring Bank, while Commonwealth Bank of Australia acted as the Agent for the syndicated green term loan facility. Herbert Smith Freehills was legal counsel for ACEN Australia, while King & Wood Mallesons was the counsel for the lenders.

The funds will be allocated to finance the development and construction of ACEN’s project pipeline in Australia encompassing solar, wind, battery storage, pumped hydro power and energy storage. The New England Solar farm, the first of these projects, is expected to be in operation by the middle of 2023.

The syndicated green term loan facility is part of ACEN’s AU$600 million target to be used in capitalizing Australia’s unparalleled renewables potential, and is a follow through to several transactions completed last year. In August 2022, ACEN Australia executed a AU$100 million green long-term revolver with DBS Bank Australia. The following month, two transactions were completed: the AU$140 million green long-term facility signed with MUFG Sydney Branch, and the AU$75 million green debt facility signed with the Australian government’s Clean Energy Finance Corporation (CEFC). ACEN Australia’s corporate term loan facilities are guaranteed by ACEN.

Anton Rohner, ACEN Australia CEO, said: “This syndicated green term loan facility continues to build on the funding secured at the end of last year, and will be mobilized into our Australian portfolio. With Stubbo 520 MWDc project reaching Notice to Proceed late in 2022, ACEN continues on the journey in decarbonizing Australia. It is exciting to work with
quality financial institutions, and the appetite for quality investments is real.”

Lu Ying, BOCHK general manager of global corporate banking department, said: “BOCHK has been committed to promoting sustainable and high-quality development within the region. It has been our privilege to pursue sustainable development together with ACEN and help create a low-carbon economy for the community. The significance of this facility is further exemplified considering it is the first green syndicated loan for a Philippine corporate after the release of the Joint Statement between China and Philippines.”

(Continued below)
Other Relevant Information

(Continuation)

Mike Albotra, CTBC Bank senior vice president and Benson Chua, CTBC Bank Singapore corporate banking head, jointly said: “The transaction further reinforces both ACEN and the Banks’ commitment to ESG, and CTBC Bank is honored to be a part of this important milestone.”

Lynette Ortiz, Standard Chartered Bank Philippines CEO, said: “The transaction demonstrates how Standard Chartered is truly ‘Here for Good’ by supporting issuances that create positive outcomes for the environment and society. It is crucial that we ensure social and economic development through our business, operations and communities.”

Mike Samson, Standard Chartered Bank Australia CEO, said: “We are proud to be able to support ACEN Australia in realizing its sustainability aspirations. This partnership is also in line with Standard Chartered Bank’s global commitment to shape a more sustainable and inclusive global trade flow.”

ACEN Australia is the platform representing ACEN’s renewable energy assets in Australia. It has more than 1.5 GW of projects under construction or at an advanced stage of development,
including the New England Solar, New England Battery, Stubbo Solar and Valley of the Winds projects in the NSW New England and Central-West Orana Renewable Energy Zones, as well as the Robbins Island and Jim’s Plain Wind project in North-West Tasmania.

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 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.

For inquiries and more information, please contact:
Irene Maranan
Head – Corporate Communications and Sustainability
Email: [email protected]
Filed on behalf by:
Name Alan Ascalon
Designation Vice President/Asst. Corporate Secretary