Connect with us

Hi, what are you looking for?


Alsons board approves issuance of P3-B debt papers

ALSONS Consolidated Resources, Inc. announced on Thursday that its board of directors approved the issuance of P3 billion in short-term commercial papers.

In its regulatory filing, the Alcantara-led company said that the new debt papers will be issued in one or more tranches. The proposed issuance was approved during a regular board meeting on Thursday.

Alsons said that its board of directors also authorized MIB Capital Corp. as the financial advisor, SB Capital Investment Corp. as the underwriter and issue manager, and Acuña & Francisco Law as transaction counsel.

Alsons also named AB Capital and Investment Corp.-Trust Investment Division as faculty agent and the Philippine Depository and Trust Corp. as the registrar and paying agent.

The board of directors also authorized an application for the registration and licensing of the commercial papers with the Securities and Exchange Commission and listing with the Philippine Dealing and Exchange Corp. (PDEx).

The listed company, which is engaged in power generation and property development, did not say where it will use the proceeds of the issuance.

Earlier this month, Alsons said that its focus is on building up its renewable energy capacity in the coming years, with around eight run-of-river hydroelectric power facilities in its pipeline.

The first of these facilities is the 14.5-megawatt (MW) Siguil hydropower plant, which is under construction in Maasim, Sarangani. It is targeted to begin operations in the second quarter of next year.

Alsons, which is said to be Mindanao’s first privately owned power generator, currently has a portfolio of four power plants with a combined capacity of 468 MW.

In June this year, the company listed with PDEx the third tranche of P1.265 billion of its P3-billion commercial paper program. The first tranche at P1.4 billion was listed in July 2021 and the second tranche at P600 million was listed in November 2021.

Proceeds from the previous issuance were allotted primarily for general working capital purposes.

In the second quarter of the year, the company’s attributable net income declined by 27.1% to P90.52 million from P124.19 million in the same period last year.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



PHILIPPINE STAR/ MICHAEL VARCAS WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global...


Buildings are seen along EDSA in Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded...


Heavy traffic is seen on the southbound lane of EDSA in Cubao, Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN THE PHILIPPINE auto industry’s...


REUTERS THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected...


Vendors arrange their goods at a public market in Manila. — PHILIPPINE STAR/ RUSSEL A. PALMA THE ASIAN Development Bank (ADB) is planning to...

Editor’s Pick

With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.