ACEN Corp. said Monday said it issued corporate guarantees to Philippine National Bank and Rizal Commercial Banking Corp. which lent $320 million to ACEN Cayman, one of its international units.
ACEN said in a disclosure to the Philippine Stock Exchange it issued corporate guarantees in support of ACEN Cayman to PNB for $140 million and RCBC for $180 million on Jan. 12, 2024.
“This loan obtained by ACEN Cayman shall be used to redeem the redeemable preferred shares held by AC Energy Finance International Limited [ACEFIL] in ACEN Cayman; the proceeds will in turn be used by ACEFIL to redeem its maturing green bonds,” the company said.
ACEN, the listed energy platform of the…
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Source: https://manilastandard.net/business/314407556/acen-guarantees-320-m-loan-of-unit-from-pnb-rcbc.html