Green Bond Fact Sheet
AC Energy

Date: 01-Feb-2019

Issue date: 29-Jan-2019 Maturity date: 29-Jan-2024 Tenor: 5Issuer Name

AC Energy

Amount Issued

USD225m

Country of risk

Philippines

CBI Database

IncludedIssuer Type1

Non-Financial Corporate

Bond Type

Senior unsecured

Green Bond Framework

Link to framework

Second party opinion

Certification Standard

Solar, Wind, Geothermal

Assurance report

N/A

Certification Verifier

Sustainalytics

Green bond rating

N/A☐ Energy☒ Solar☒ Onshore wind
☐ Offshore wind
☒ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ Waste to energy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energy performance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emission vehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewater treatment☐ Water storage☐ Storm water mgmt
☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Land use &agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose & paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience

Sustainalytics

Use of Proceeds☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
Reporting

There will be publicly available reporting on the allocation of the bond’s
proceeds at least annually.
There will be reporting on the annual amounts of energy generated from thefinanced assets and the corresponding estimated avoided GHG emissions.

Company information

AC Energy Inc. is a subsidiary of Ayala Corporation, which traces its heritage
back to the 19th Century and is the largest company in the Philippines, withbusiness interests in a wide range of industries.
AC Energy owns 1.7GW of energy generation capacity, of which just under 50%
is renewable. They have a target of over 50% renewable generation mix by2025. Their renewable energy generation portfolio includes a mix of solar,
onshore wind and geothermal generation assets across the Philippines andAsia Pacific.

Firsts, records andcertifications
Proceeds description

This is the second Certified Climate Bond issued from the Philippines and thethird debut Certified deal linked to geothermal energy assets.

Proceeds will be used to finance a mix of new and existing onshore wind, solar
and geothermal assets across Southeast Asia and Australia.

Climate Bonds view
Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign