ACEN, through its subsidiary ACEN Renewables International Pte. Ltd., has secured a five-year syndicated green term loan and revolving credit facility amounting to USD150 million.
A consortium of leading international financial institutions well-received the transaction, which further solidified the market’s trust and confidence in ACEN’s robust renewable energy pipeline across the region. CTBC Bank (Philippines) Corp. and CTBC Bank Co. Ltd. acted as structuring bank and arranger, respectively, and formed a strategic alliance with five banks – Singapore branches of CTBC Bank Co., Ltd., Malayan Banking Berhad, Chang Hwa Commercial Bank, Ltd., Land Bank of Taiwan, and Mega International Commercial Bank Co., Ltd.
The proceeds from this syndicated green term loan will support ACEN’s fast-growing presence in the Asia Pacific. The company has about 4.8 GW of attributable renewables capacity in operation and under construction, as well as signed agreements and won competitive tenders worth over 1 GW. ACEN has already effectively surpassed its original goal of reaching 5 GW of renewables by 2025.
Cecile Cruzabra, ACEN group treasurer, said: “The participation of different international banks in this transaction which includes a long-term revolving facility is a demonstration of the financial community’s strong confidence in ACEN’s leadership in the renewable energy sector and their full support for our growing pipeline outside our home market. We are thankful to the lenders for their trust as we strategically head towards our goal of reaching 20 GW by 2030.”
Mike Albotra, CTBC Bank (Philippines) Corp. SVP of institutional banking group, said: “Our introduction of ACEN to the Taiwan investors last year has indeed paved the way for this much-awaited transaction which we are truly honored to have successfully arranged. We believe in ACEN’s story, its vision and aspiration to achieve 20 GW capacity by 2030. The Banks’ strong support for ACEN is a clear manifestation of their faithfulness to their respective sustainability goals and highest desires to reduce the threat of rising global temperature. CTBC Bank is looking forward to the continued partnership with ACEN in pursuit of its fulfilling journey to powering communities thru sustainable means.”
Sunny Sng, CTBC Singapore branch head of corporate banking 1, said: “CTBC is deeply honored, to be trusted by ACEN Corporation, to lead arrange ACRI’s first syndicated Green Loan Facility. We are pleased that the USD100m syndicated 5-year Green Loan Facility was oversubscribed and closed at USD150m with 4 other lenders, Maybank, Land Bank of Taiwan, Chang Hwa Commercial Bank and Mega International Commercial Bank. Together, the bank syndicate is committed to support ACEN in growing its international portfolio and to achieve ACEN’s goal of 20 GW of renewable capacity by 2030.”
