Alsons Consolidated Resources, Inc. Lists PHP 1.265 Billion Commercial Paper on PDExPosted on: July 6, 2022
27 June 2022, Makati, Philippines — Alsons Consolidated Resources, Inc. (ACR) lists its PHP 1.265 Billion Commercial Paper (CP) on the Philippine Dealing & Exchange Corp. (PDEx), the third tranche of ACR’s PHP 3 Billion CP Program. The ACR Series R and Series S Commercial Paper were pegged at a discount rate of 3.47% and 4.28%, respectively.
On his welcome remarks, PDEx President & Chief Executive Officer Antonino A. Nakpil laud ACR for getting a credit rating upgrade to PRS Aa minus last March 2022. He said: “We see each return of an issuer to the public debt market as the continued reaffirmation of its relationship with its investors who support it with funds and to whom it renews its financial commitments. The confidence of your investors, while loyal, is not founded on pure blind faith, but equally affirmed by your recent third-party credit rating upgrade to PRS Aa minus last March 2022, congratulations indeed.”
“The return issuances of ACR have been productive ones as well as each succeeding prospectuses revealed further progress in the expansion in the energy sector in Mindanao. These are essentially updates to your investors on what their funding supports, infrastructure toward much needed power generation in the Southern Philippines, that is locations that would be the picture-perfect definition inclusive national economic development,” Mr. Nakpil further added.
ACR Executive Vice President Tirso Santillan, Jr. remarked: “As many of you know, we at Alsons Consolidated Resources, Inc. are now focused on developing several run of river hydroelectric power plants which will be sources of clean, reliable, affordable and renewable energy for the people of Mindanao and the rest of the Southern Philippines. The first of these renewable energy facilities, the Siguil River Hydro Plant in Sarangani Province will be operational by the second quarter of 2023.”
This 15th admission for 2022 brings the year-to-date total of new listings to PHP 255.62 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.32 Trillion issued by 53 companies, comprised of 190 securities.