CREIT gets pre-approval for its P4.5B green bond offer

CREIT

The Securities and Exchange Commission (SEC) has pre-approved Citicore Energy REIT (CREIT)’s planned issuance of up to P4.5 billion worth of ASEAN green bonds.

CREIT, the country’s first energy REIT and an affiliate of business magnate Ed Saavedra-led Megawide Corp., received last Jan. 23 a pre-effective letter of approval from the SEC for its peso-denominated fixed rate ASEAN green bond registration.

The pre-effective approval is subject to CREIT’s compliance with the conditions and submission of documents prescribed by the SEC.

CREIT is offering P3 billion worth of ASEAN green bonds, with an oversubscription allotment up to P1.5 billion.

The green bonds will be listed at the Philippine Dealing and Exchange Corp.

Proceeds will be used to fund the acquisition of solar rooftop systems to be leased out to an affiliate solar power operator, as well as land parcels totaling about 500 hectares planned to host affiliate solar power developers and operators.

Proceeds from the issue will exclusively be applied to finance or refinance, in part or in full, new and/or existing eligible green projects.

https://bilyonaryo.com/2023/01/24/creit-gets-pre-approval-for-its-p4-5b-green-bond-offer/power/