29 November 2023, Makati, Philippines — Alsons Consolidated Resources, Inc. (ACR) returns to the local debt capital market with the issuance and listing of its PHP 1.149 billion worth of Commercial Paper.

PDEx President and CEO Antonino A. Nakpil was delighted to see familiar faces and as he welcomed ACR back. “It is fitting that an energy company that is transitioning from brown to green and focused on countrywide development marks its listing at this time when there are finally signs of light at the end of this volatile, uncertain, complex, and ambiguous tunnel.”

“Through whatever economic conditions persist, it is firms like ACR that continue to work and progress along their roadmaps, in your case, through the remarkable strides you have made in the renewable energy sector, that integrate well within broader goals of sustainable development.”, Mr. Nakpil added.

On his end, ACR Executive Vice President Tirso Santillan, Jr. remarked: “This year, we have issued a total of PHP 2.529 billion, since the inaugural issuance of PHP 620 million in December 2022. Our heartfelt appreciation goes to PDEx for its steadfast support in our pursuit of business growth and in powering more communities.”

“The proceeds derived from this commercial paper program are earmarked primarily for ACR’s general working capital. Among other uses, this provides us bridge financing for the construction of our projects until long term financing loans fall into place. This also gives us an alternative source of funds that enables us to optimize our financing cost.”, Mr. Santillan added.

This 13^th admission for 2023 brings the year-to-date total of new listings and enrollments to PHP 173.73 billion, pushing the total level of tradable corporate debt instruments to PHP 1.31 trillion issued by 51 companies, comprising 184 securities.