MANILA, Philippines — Saavedra-led Citicore Renewable Energy Corp. plans to tap the green bond market next year, stepping on the gas to become one of the largest power producers in the country.He said the issuance would depend on interest rate conditions, as “we would want to wait for a cut for rates to go down.”
CREC debuted on the Philippine Stock Exchange last Friday, successfully raising P5.3 billion and making it the country’s second initial public offering this year. “With this new equity, CREC will have an expanded balance sheet, thereby enabling it to potentially issue green bonds to further fund the third batch GW of the solar plant,” he said.
An SRO is capital-raising activity that gives the existing shareholders of a publicly listed company the right to buy additional shares, usually at a discounted price. Following the resignation of two of its members amid the unprecedented ghost employees scandal, the Monetary Board of the Bangko Sentral ng Pilipinas now has two empty seats to be filled by President Marc...
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