ADB invests $20m in AC Energy's maiden climate bonds

It is an anchor investor in the 10-year tranche.

The Asian Development Bank (ADB) invested $20m in the maiden climate bond issuance of AC Energy, a subsidiary of Philippine conglomerate Ayala Corporation.

According to an announcement, ADB is an anchor investor in the 10-year tranche, contributing to a total issue volume of $410m. The proceeds of the bonds are expected to finance renewable energy projects in the Asia and Pacific region, including Vietnam, the Philippines, and Indonesia.

Also read: Philippines' AC Energy launches $225m maiden green bonds

This is ADB’s third climate bond project and its first publicly listed climate bond. In December 2018, ADB invested THB5b in B.Grimm Power Public Company Limited’s maiden 5-year and 7-year climate bonds.