Alsons Consolidated Resources, Inc. Lists 4th Tranche of P3 Billion Commercial Paper Program with PDEx

Alsons Consolidated Resources Inc. (ACR) of the Alcantara Group successfully raised P516.7 million in Commercial Paper (CP) from the fourth tranche of its P3 billion CP Program with the Philippine Dealing and Exchange Corporation (PDEx). The funds raised will be used primarily for ACR's general working capital. 

“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,” said ACR Deputy Chief Financial Officer Philip Edward Sagun.
Last month, ACR retained its Issuer Credit Rating of PRS Aa minus (corp.), with a stable outlook from the Philippine Rating Services Corporation. This grade was given in reference to the issuance of up to P3.0 billion in CP.
This PRS Aa minus (corp.) grade emphasizes ACR's strong ability to satisfy its financial commitments in comparison to other Philippine corporations, and it is expected that the rating will be maintained or unchanged during the following 12 months.

In determining ACR’s credit rating, PhilRatings took into account several factors. This includes the full operations of the Mindanao-Visayas Interconnection Project (MVIP) and the commencement of both the Wholesale Electricity Spot Market (WESM) and Retail Competition and Open Access (RCOA) in Mindanao, which is seen to provide additional income streams for the company. 

Currently, ACR's power portfolio consists of four power facilities with an aggregate capacity of 468 MW, serving over eight million people across 14 cities and 11 provinces in Mindanao.

​Committed to enhancing its renewable energy capacity, ACR is anticipating the commercial operations of its 14.5 MW hydroelectric power plant in Sarangani Province this year. Additionally, it is developing two other renewable projects: the 37.8-MW hybrid Siayan Hydro-Solar Power Plant in Zamboanga del Norte, and the 42-MW Bago Hydro Power Plant in Negros Occidental. In 2023, ACR entered the Visayas energy market with its 95.2-MW In-Island Baseload Backup Power Plant in Brgy. Imelda, Municipality of Ubay, Bohol. This facility is designed to provide a reliable backup power source for consumers in Bohol, ensuring continued electricity supply during times when the province is isolated from the Visayas grid due to calamities or natural disasters.