Alsons Consolidated Resources, Inc. Debuts in the PDEx Organized Secondary MarketPosted on: October 26, 2018
26 October 2018, Makati Philippines – Alsons Consolidated Resources, Inc. (ACR) joined the ranks of the PDEx Issuer Community, listing its maiden issuance of PhP 100 Million Commercial Paper on the PDEx bourse. The offering forms part of Alson’s PhP 2.5 Billion Commercial Paper Program approved by the Securities and Exchange Commission under the Shelf-Registration Program.
This 22nd listing for the year marks the 140th listing since the organized secondary debt market opened in 2008. This brings the year-to-date total of new listings to P174.39 Billion, increasing the total volume of listed corporate debt to PhP 966.27 Billion.
For PDEx President and COO Antonino Nakpil, Alson’s listing is timely given the development of green financing in the country. “Today, we have Mindanao’s first independent power producer and a firm that is notably moving into the renewable energy sector. This certainly puts ACR and its projects on the radar screen of green-focused investment funds, an area of funding activity that has been growing significantly over the past two years,” Mr. Nakpil said.
Alsons Executive Vice President Tirso Santillan, Jr. remarked: “We’re looking to add up to 145 megawatts of renewable energy from the eight run-of-river hydro power facilities that we will be developing in various locations in Mindanao and Negros Occidental. This facility will give us the ability to bridge the financial requirements of our projects under development.”
In attendance were Alsons Directors Conrad Alcantara and Nicasio Alcantara, Alsons Chief Finance Officer Robert Yenko, and the Issue’s Sole Issue Manager, Lead Arranger and Underwriter – Multinational Investment Bancorporation President Marilou Cristobal.#