AC Energy powers up fixed-for-life bond structure

By Morgan Davis
19 Nov 2020

Philippine company AC Energy found good support for a $300m fixed-for-life green perpetual bond on Wednesday, with demand from existing and new investors, as well as domestic fund managers.

The senior trade was launched in tandem with a tender offer for the issuer's $400m 5.65% fixed-for-life perpetual bond and its $360m 4.75% 2024 notes. The tender expires at 4pm London time on November 26. The notes were trading at a yield to call of 4.1% and 2.53%, ...

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