SEC approves Citicore REIT's green bond offer

MANILA, Philippines — The Securities and Exchange Commission gave the go-ahead to Citicore Energy REIT Corp’s bond offering.

In a statement on Friday, the regulator approved the registration statement for the company’s P4.5 billion offering of fixed-rate ASEAN Green Bonds.

Citicore Energy REIT projected it could net up to P4.42 billion from this offering if the oversubscription option is fully exercised.

Proceeds will be used to acquire solar rooftop systems for lease and a solar power operator. The funds to be raised would also be used to purchase properties, which are expected to be leased out to solar power developers and operators. 

This type of "sustainable" finance comprise bonds and sukuk, a sharia-compliant bond instrument, wherein proceeds will be used to exclusively finance or refinance green projects. 

These bonds comply with ASEAN green bonds standards.

According to the company, the bonds will be offered from January 30 to February 3. It will be listed at the Philippine Dealing and Exchange Corp. on February 10.