Energy Development Corporation’s (EDC) Php5 billion dual-tranche green bonds has been awarded as the best local currency green bond in the Triple A Country Awards 2021.
The award was issued by Asset Publishing and Research Ltd., a widely recognized business news and research organization in the Asia-Pacific region.
The said bonds were issued in June 2021. It served as the first tranche in its series of bond issuances worth Php 15 billion. The Php5 billion bond issuance was given a “PRS Aaa” rating by the Philippine Rating Services Corporation. A “PRS Aaa” rating means the bonds have the highest quality with minimal credit risk.
“The public’s strong support for the expansion of our 100% renewable energy portfolio and the financial institutions’ commitment to focus only on funding low carbon power are crucial in speeding up that necessary transition to a decarbonized world,” EDC CFO Erwin Avante said in a statement
Last week, EDC announced that it renewed its two-year renewable energy power supply agreement with Silliman University in Dumaguete City.