The Securities and Exchange Commission approved the P15-billion ASEAN green bond offering of Energy Development Corp.
It said EDC’s P15-billion bond program could be issued in one or more tranches within three years, subject to certain require1ments.
EDC plans to offer up to P3 billion of three-year bonds due in 2024 and five-year bonds due in 2026, with an oversubscription option for another P2 billion.
ASEAN Green Bonds refer to bonds and sukuk which comply with the ASEAN Green Bonds Standards, where the proceeds will be exclusively applied to finance or refinance, in part or in full, new and/or existing eligible green projects.
Eligible green projects include those for renewable energy, energy efficiency, pollution prevention and control, environmentally sustainable management of living natural resources and land use, clean transportation, climate change adaptation and green buildings.