The Alcantara family’s listed holding company Alsons Consolidated Resources Inc. (ACR) successfully raised P516.7 million from the fourth tranche of its P3 billion debt program.
This funding will be used primarily for ACR’s general working capital. Last month, ACR maintained its PRS Aa minus (corp.) credit rating with a stable outlook from Philippine Rating Services Corp., indicating strong financial capacity.
“We are committed to providing safe, reliable, and affordable energy that prioritizes our environment, communities, and economy. The fourth tranche of our commercial paper program offers an efficient and effective way to raise funds that will support this mission,” ACR deputy chief financial officer Philip Edward Sagun said in a statement on Friday.
Meanwhile, PhilRatings considered factors like the Mindanao-Visayas Interconnection Project and new market regulations, which will lend a boost to future business prospects.
ACR's power portfolio includes four facilities with a total capacity of 468 Megawatts, serving over eight million people across 14 cities and 11 provinces in Mindanao.
