Alsons Consolidated Resources Inc. (ACR) has entered into a P6-billion omnibus notes facility and security agreement for the refinancing of its fixed rate corporate notes.
In a disclosure to the Philippine Stock Exchange, the company said the notes will have a five-year and seven-year tranche.
Part of the proceeds will be used to finance renewable energy investments.
The Development Bank of the Philippines is the lead arranger of the transaction.
Some of the projects of ACR in the pipeline 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.
The company has at least seven other run-of-river hydroelectric plants in various stages of development.
The next two projects in the pipeline are the 22 MW Sindangan project in Zamboanga del Norte and the 42 MW Bago project in Negros Occidental.
ACR currently has a portfolio of four power facilities with an aggregate capacity of 468 MW serving over eight million people in 14 cities and 11 provinces. – J. Macapagal