Alsons P3B commercial paper issue OKd

- Advertisement -

Alsons Consolidated Resources Inc. has secured permit from the Securities and Exchange Commission (SEC) to pursue its P3-billion commercial paper program.

The company in a disclosure to the Philippine Stock Exchange yesterday said  the SEC on January 31 granted approval for the issuance of the first tranche of the program at a base offer of P1.2 billion and an oversubscription of up to P400 million.

Alsons did not provide details but previous Malaya Business Insight reports quoted the company as saying it has been active in raising funds to build up its renewable energy capacity in the next few years with several renewable energy (RE) facilities in the company’s pipeline.

- Advertisement -

Last year, Alsons completed the 14.5 megawatts (MW) Siguil Hydro power plant in Maasim, Sarangani.

The company is also developing hydro and solar power project in Zamboanga del Norte with a potential combined capacity of up to 37.8 MW as well as a hydro power project in the Bago River in Negros Occidental with a planned capacity of up to 42 MW.

Author

- Advertisement -

Share post: