Case Analysis- SUN LIFE invests in "Mabuhay Green Bonds" Sun Life of Canada Philippines (MB 15 July 2018) Sun Life of Canada Philippines has marked its foray into the so-called green debt papers after investing in International Finance Corp.'s (IFC) "Mabuhay Green Bonds", the first of such kind of instrument sold in the country. Michael Gerald D. Enriquez, Sun Life Philippine chief investments officer said that they recently made the company's maiden investment in green bonds issued by IFC. Last month, IFC, a member of World Bank Group, floated approximately $90 million worth of 15-year peso-dominated "Mabuhay" green bond. "The Mabuhay Green Bonds are the first of its kind in the Philippines and Sun Life is proud to make its first investments with these bonds as we strengthen our commitment in supporting sustainability," Enriquez said. For his part, Benedict Sison, Sun Life Philippines chief executive, lauded the issuance of IFC's Mabuhay Bonds which he considers a helpful vehicle that can help improve generation output of geothermal power plants and address climate change. "As a company, we continue to look for opportunities to be able to participate more in infrastructure financing. This is one opportunity we have sought to participate in and one that would definitely impact on our efforts to be a vital contributor to nation-building." Sison said. IFC is set to use the net proceeds from this issuance to on-lend to eligible climate projects that aim to finance a sustainable economic growth in developing countries, investing exclusively in renewable energy, energy efficiency, and other climate-smart projects in accordance with green bond principles. In particular, IFC will use the proceeds of the bond to finance the Energy Development Corp.'s capital expenditure program, which is focused on optimizing the generation output of its geothermal power plants and improving resiliency to climate impacts. EDC is the Philippines' largest producer of geothermal energy and one of the world's largest integrated geothermal energy producers. Its power generation in 2016 represents approximately nine (9) percent of the Philippines' total power generation capacity. Established in 1956, IFC is the largest global development institution focused on financing private sector investments in developing countries. IFC is also one of the world's largest and earliest issuers of green bonds, having issued a total of 109 green bonds amounting to $7.5 billion across 12 currencies. Requirements: 1) Evaluate if given example in Sun Life investment an example of Capital Market operations. 2) Give and explain the benefits derived from this investment to nation-building. Individual: 1. Written Interpretation of Cash flow Statement and cashflow statement. Case Analysis- SUN LIFE invests in "Mabuhay Green Bonds" Sun Life of Canada Philippines (MB 15 July 2018) Sun Life of Canada Philippines has marked its foray into the so-called green debt papers after investing in International Finance Corp.'s (IFC) "Mabuhay Green Bonds", the first of such kind of instrument sold in the country. Michael Gerald D. Enriquez, Sun Life Philippine chief investments officer said that they recently made the company's maiden investment in green bonds issued by IFC. Last month, IFC, a member of World Bank Group, floated approximately $90 million worth of 15-year peso-dominated "Mabuhay" green bond. "The Mabuhay Green Bonds are the first of its kind in the Philippines and Sun Life is proud to make its first investments with these bonds as we strengthen our commitment in supporting sustainability," Enriquez said. For his part, Benedict Sison, Sun Life Philippines chief executive, lauded the issuance of IFC's Mabuhay Bonds which he considers a helpful vehicle that can help improve generation output of geothermal power plants and address climate change. "As a company, we continue to look for opportunities to be able to participate more in infrastructure financing. This is one opportunity we have sought to participate in and one that would definitely impact on our efforts to be a vital contributor to nation-building." Sison said. IFC is set to use the net proceeds from this issuance to on-lend to eligible climate projects that aim to finance a sustainable economic growth in developing countries, investing exclusively in renewable energy, energy efficiency, and other climate-smart projects in accordance with green bond principles. In particular, IFC will use the proceeds of the bond to finance the Energy Development Corp.'s capital expenditure program, which is focused on optimizing the generation output of its geothermal power plants and improving resiliency to climate impacts. EDC is the Philippines' largest producer of geothermal energy and one of the world's largest integrated geothermal energy producers. Its power generation in 2016 represents approximately nine (9) percent of the Philippines' total power generation capacity. Established in 1956, IFC is the largest global development institution focused on financing private sector investments in developing countries. IFC is also one of the world's largest and earliest issuers of green bonds, having issued a total of 109 green bonds amounting to $7.5 billion across 12 currencies. Requirements: 1) Evaluate if given example in Sun Life investment an example of Capital Market operations. 2) Give and explain the benefits derived from this investment to nation-building. Individual: 1. Written Interpretation of Cash flow Statement and cashflow statement