MANILA, Philippines — AC Energy Inc., the Ayala group’s power business, has launched its first ever US dollar denominated perpetual, fixed-rate green bonds amounting to $400 million.

Proceeds from the issue will be used to fund the company’s renewable energy expansion in the Asia Pacific region.

In a disclosure to the Philippine Stock Exchange yesterday, AC Energy said the amount set for its inaugural US dollar-denominated senior perpetual fixed-for-life green bond issuance was $400 million with a fixed coupon of 5.65 percent for life with no step-up and no reset.

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