Sustainable real estate developer Arthaland Corp. listed its P3-billion ASEAN Green Bonds on the Philippine Dealing and Exchange Friday.
Arthaland said the bonds were issued in two tenors. The five-year bonds carry a coupon rate of 8 percent per annum, while the seven-year bonds have a coupon rate of 8.7557 percent.
The offer comprises the second tranche of the company’s P6-billion ASEAN Green Bond Program.
Arthaland said a substantial portion of the proceeds from the offer would fund the necessary investment in new certified sustainable residential projects that would allow it the flexibility to develop and launch within the next 10 years or more.
“The ASEAN Green Bonds carry our commitment to use the proceeds only towards projects that meet minimum green building certifications and to be transparent in disclosing the environmental impact of these projects through energy savings and reductions in greenhouse gas emissions. We believe that this offer gives institutions and the public a chance to participate in this noble cause”, said Arthaland director Christopher Po. Jenniffer B. Austria