ACR to issue P3B papers


    Alsons Consolidated Resources Inc. (ACR) has approved the issuance of new short-term commercial paper worth up to P3 billion.

    In a disclosure to the Philippine Stock Exchange, ACR said it engaged the services of Multinational Investment Bancorporation as the issue manager and lead underwriter while the Philippine Depository & Trust Corp. will be the registrar and paying agent for the issuance.

    The company has been active in raising funds for its projects.

    Last month, ACR also entered into a P6-billion omnibus notes facility and security agreement with a 5-year and 7-year tranche for the refinancing of its fixed rate corporate notes as well as fund renewable energy investments.

    Among its pipeline projects are the P4.5 -billion 14.5 megawatts (MW) Siguil run-of-river hydroelectric power plant in Maasim, Sarangani Province and the P16-billion 105 MW San Ramon Power baseload coal-fired power plant in Zamboanga City.