Tomas Alcantara’s Alsons raises P620M from debt offering

The Alcantara Group’s Alsons Consolidated Resources (ACR) raised P620 million from the recent offering of commercial papers.

Proceeds will be used primarily for general working capital purposes.

The issuance represents the first tranche of ACR’s P3 billion commercial paper program.

“Our continuing partnership with PDEx has helped us in fulfilling our commitment to provide clean, reliable, affordable and renewable energy for the people of Mindanao and key areas of the Visayas,” ACR chairman and president Nicasio Alcantara said.

Alcantra said renewable energy would comprise at least half of ACR’s energy portfolio in the coming years.

The company currently has around eight run-of-river hydroelectric power facilities in the pipeline.

The first of these hydroelectric power plants is the 14.5 megawatt (MW) Siguil hydro power plant currently under construction in Maasim, Sarangani Province.

The project is targeted to begin operations in 2023.

UnionBank Named Best Retail Bank In The Philippines Four Years In A Row!

At the most rigorous, prestigious, and transparent annual awards program to recognize institutional and individual leadership in retail financial services in the Asia Pacific region, UnionBank was lauded for once again outperforming its peers. The Asian Banker’s Global Excellence in Retail Financial Services Awards Programme 2023, held last March at the Lotte Hotel in Hanoi, Vietnam, recognized UnionBank with its 4th consecutive BEST RETAIL BANK in the Philippines award and honored for being voted the MOST RECOMMENDED RETAIL BANK in the Philippines.

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