Citicore Energy REIT Corp., the country’s first renewable energy real estate investment trust company, on Friday listed P4.5 billion worth of ASEAN green bonds on strong demand from investors.
The P3-billion base offer was oversubscribed, prompting the company to issue P1.5 billion in over-allotment option, the company said in a stock exchange filing.
The offering, which was listed on the Philippine Dealing & Exchange Corp., bears a coupon rate of 7.0543 percent and will mature on Feb. 10, 2028.
“This listing marks our second capital raising activity in just twelve months, following our initial public offering almost a year ago. We are very grateful for the investment community’s continued favorable reception and the support of our joint lead underwriters, regulators and participants. Without all of you, this exercise would have not been a successful offering, especially amid a looming global recession,” said CREIT president and chief executive Oliver Tan.
CREIT said it would use the proceeds from the fund-raising activity to acquire value-accretive properties to grow its green asset portfolio.