The Securities and Exchange Commission on Thursday approved Alsons Consolidated Resources Inc.’s issuance of P1.135-billion commercial paper to raise funds for working capital and other short-term expenses.
Alsons said in a disclosure to the stock exchange the amount represents the first tranche of its P3 billion commercial paper program. Its board approved on Aug. 25, 2022 the issuance of new short-term commercial paper worth P3 billion.
The board also authorized the engagement of MIB Capital Corp. as financial advisor, SB Capital Investment Corp. as underwriter and issue manager, Acuna & Francisco Law as transaction counsel, AB Capital and Investment Corp.-Trust Investment Division as facility agency and the Philippine Depository & Trust Corp. as registrar and paying agent.
The board authorized Alsons to apply for registration and licensing of the commercial paper with the SEC and listing with the Philippine Dealing and Exchange Corp. Alena Mae S. Flores
