The board of Alsons Consolidated Resources Inc. approved the issuance of P3-billion worth of short-term commercial paper on Thursday in one or more tranches.
The board also authorized the engagement of MIB Capital Corp. as the financial advisor, SB Capital Investment Corp. as underwriter and issue manager, Acuña & Francisco Law as transaction counsel, AB Capital and Investment Corp.-Trust Investment Division as facility agent and the Philippine Depository & Trust Corp. as registrar and paying agent.
Alsons is focused on building up its renewable energy capacity in the next few years, with around eight run-of-river hydroelectric power facilities in the pipeline. The first of these hydro plants is the 14.5-megawatt Siguil hydropower project under construction in Maasim, Sarangani, which is targeted to begin operations by the second quarter of 2023.
The next hydro facilities slated for development are the 21-MW hydro plant in Zamboanga del Norte and the Bago river hydroelectric power plant in Negros Occidental. Alena Mae S. Flores