CREIT receives permit on ASEAN green bonds

By Manila Standard – January 30, 2023, 6:45 pm

Citicore Energy REIT Corp., the country’s first renewable energy REIT and largest RE landlord, said Monday it received a permit to sell for its maiden ASEAN green bond offering from the Securities and Exchange Commission.

The fixed rate bonds, scheduled to be issued on and listed at the Philippine Dealing and Exchange on Feb. 10, 2023, will bear a coupon rate of 7.0543 percent and be due February 2028. It earlier received a rating of PRS Aa+ with stable outlook from the Philippine Rating Services Corp., signifying its strong capacity to meet its financial obligation.

The offer period will run from Jan. 30 to Feb. 3, 2023, with SB Capital and Investment Corp. and PNB Capital and Investment Corp. acting as the transaction’s joint local underwriters, issue managers, bookrunners and selling agents.

“After opening the doors to a new REIT asset class in 2022 focused on RE, we want to show our existing and potential investors and all stakeholders that we are committed to continuously provide them with green and sustainable investment options. We are hopeful that the offer’s objective of funding green projects will translate to a favorable reception from the market,” said CREIT president and chief executive Oliver Tan.