NOT FOR RELEASE IN OR INTO AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR TO U.S. PERSONS.
Singapore, 18 December 2017. Proposed Sindicatum Renewable Energy Company INR Guaranteed Green Bond Launched with Issue Rating of A1 by Moody’s and AA- by Fitch
Singapore-based Sindicatum Renewable Energy Company Pte Ltd (“SREC”), an award-winning regional developer, owner and operator of clean energy projects, announces the launch of its INR Guaranteed Green Bonds issue, the first of its kind in South East Asia.
The bonds will be issued in accordance with the Green Bond Principles and ASEAN Green Bond Standards under the International Capital Markets Association and ASEAN Capital Markets Forum respectively and reviewed by Sustainalytics (Document1 and Document2), an accredited third party provider.
The bonds are expected to be rated A1 by Moody’s and AA- by Fitch respectively. The guarantor is GuarantCo. ING Bank is acting as the Sole Lead Manager and Bookrunner.
PLEASE CONTACT MICHAEL.BOARDMAN@SINDICATUM.COM, RICHARD.PROUDLOVE@ING.COM OR WINSTON.TAY@ASIA.ING.COM FOR FURTHER INFORMATION.
About The Issuer
Sindicatum Renewable Energy Company Pte Ltd is a renewable energy independent power producer that develops, owns and operates generation facilities in South and Southeast Asia. The company sells the output from its facilities to utility and commercial customers who typically purchase power from Sindicatum under long-term power purchase agreements.
Sindicatum has been operating electricity generation facilities in the region since April 2010. The company’s operating portfolio as of November 2017 amounted to 176 MW on a gross basis, of which the company’s equity interest is 106 MW. As of 30 September 2017, the average remaining life of the PPAs was 16 years, excluding automatically-renewed PPAs.
About The Guarantor
GuarantCo is sponsored by the governments of the United Kingdom, Australia, Sweden and Switzerland through the Private Infrastructure Development Group (“PIDG”) and the government of the Netherlands through FMO, the Dutch development agency. The Guarantor was incorporated as a Mauritian company in 2005. GuarantCo was first rated in 2014 and since then has been consistently rated AA- by Fitch and A1 by Moody’s.
This document (and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States, Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would be unlawful. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States or to U.S. persons, unless the securities are registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available. No public offering of the securities will be made in the United States.
This communication does not constitute an offer of securities to the public in the United Kingdom and is being distributed only to and is directed only at (a) persons outside the United Kingdom, (b) persons who have professional experience in matters relating to investments, i.e., investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), and (c) high net worth entities, unincorporated associations and other bodies to whom it may otherwise lawfully be communicated in accordance with Article 49(2)(a) to (d) of the Order (all such persons together being referred to as relevant persons). The securities are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be available only to and will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents.
Statements contained herein may constitute “forward-looking statements”. These statements include all matters that are not historical fact and generally, but not always, may be identified by the use of words such as “believes,” “expects,” “are expected to,” “anticipates,” “intends,” “estimates,” “should,” “will,” “will continue,” “may,” “is likely to,” “plans” or similar expressions, including variations and the negatives thereof or comparable terminology.
Forward-looking statements are not guarantees of future performance, involve a number of known and unknown risks, uncertainties and other factors and the Company’s actual results of operations, financial condition and the development of the industry in which it operates may differ significantly from those made in or suggested by the forward-looking statements contained herein. In addition, even if the Company’s results of operations and financial condition and the development of the industry in which it operates are consistent with the forward-looking statements contained herein, those results or developments may not be indicative of results or developments in subsequent periods. The Company does not undertake publicly to update or revise any forward-looking statement that may be made herein, whether as a result of new information, future events or otherwise.