Alsons Consolidated Resources, Inc. Raises PHP 1.4 Billion Commercial Paper on PDExPosted on: July 16, 2021
16 July 2021, Makati, Philippines — Alsons Consolidated Resources, Inc. (ACR) lists PHP 1.4 Billion worth of Commercial Paper (CP) on the Philippine Dealing & Exchange Corp. (PDEx), the initial tranche of ACR’s PHP 3 Billion CP Program. The ACR Series O and P were set at a discount rate of 3.25% and 3.75%, respectively.
PDEx President and CEO Antonino Nakpil welcomed ACR back to PDEx in his remarks. “It is always great to see an Issuer able to fit a return to the public debt market into its funding plans and this is no exception. We see this as clearly indicating that ACR’s forays into the public debt markets over the past few years have been beneficial for its investors who have in turn supported its activities in power generation.”, said Mr. Nakpil.
“The recent power outages in various areas and their effect on remote work arrangements starkly reminded us of the value of working from centralized office with uninterrupted power supply and generator support. So we are doubly pleased to see how the capital market supports ACR on its power generation goals”, added Mr. Nakpil.
On his part, ACR Chairman and President Nicasio I. Alcantara remarked: “With the initial listing of the first tranche worth PHP 1.4 Billion of our planned PHP 3 Billion Commercial Paper Program; we at Alsons Consolidated Resources are pleased with the opportunity to provide investors with an attractive alternative investment outlet as we once again tap the short-term capital market in our continuing quest to ensure the provision of safe, reliable and affordable power for the people of Mindanao and other areas of the Philippines”
This 12th listing for 2021 brings the year-to-date total of new listings to PHP 135.64 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.42 Trillion issued by 53 companies, comprised of 201 securities.