Alsons Consolidated Resources Inc. of the Alcantara Group has raised P620 million from the issuance of commercial paper, proceeds from which will fund new renewable energy ventures.
The Securities and Exchange Commission had given ACR the permit to sell 182-day and 364-day commercial papers at an interest rate of 6.3328 percent and 7.1265 percent per annum, respectively. The P3-billion commercial paper program is Alsons’ third since it started using this funding scheme in 2018. CP refers to debt paper that matures in one year or less, as distinguished from bonds that mature in more than a year.
PhilRatings factored in ACR’s planned expansion projects that would diversify its generation mix and its ability to establish joint ventures with strong partners for particular projects.
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