ALSONS Consolidated Resources (ACR) announced the successful third tranche issuance of its P3 billion commercial paper program.
The latest issuance, valued at P1.149 billion, has been listed on the Philippine Dealing and Exchange Corp.
The proceeds derived from this will primarily be used for ACR’s general working capital, showcasing the company’s unwavering commitment to steering economic progress in Mindanao.
Earlier this year, ACR received an issuer credit rating of PRS Aa minus from the Philippine Rating Service Corp. in relation to the company’s P3 billion commercial paper program.
ACR said it is committed to strengthening its renewable energy projects, aiming for at least 50 percent of its energy mix to come from renewable sources.