The board of Alsons Consolidated Resources Inc. (ACR) approved the issuance of a new short-term commercial paper worth up to P3 billion.
In a disclosure to the Philippine Stock Exchange, ACR said the commercial papers will be issued in one or more tranches.
The company has tapped MIB Capital Corp. as financial advisor of the issuance while SB Capital Investment Corp. will be underwriter and issue manager, Acuna & Francisco Law as transaction counsel, AB Capital and Investment Corp.-Trust Investment Division as facility agent and the Philippine Depository & Trust Corp. as registrar and paying agent.
ACR is currently focused on building up its renewable energy capacity in the next few years, with around eight run-of-river hydroelectric power facilities in the company’s pipeline.
ACR’s current portfolio includes four power facilities with an aggregate capacity of 468 MW serving over eight million people in 14 cities and 11 provinces in Mindanao. -Jed Macapagal