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Cirtek finalizes pricing of stock rights offer, bonus detachable warrants

Cirtek finalizes pricing of stock rights offer, bonus detachable warrants
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Cirtek Holdings lists P1-B commercial papers on PDEx

Cirtek Holdings lists P1-B commercial papers on PDEx April 29, 2021 | 12:03 am CIRTEK Holdings Philippines Corp. said the “success” of its listing of P1-billion worth of commercial papers on Wednesday is seen by the offering’s over four times oversubscription at a time of monetary easing and consecutive rate cuts by local and foreign central banks. “The company intends to use the proceeds from the offer to partially retire its short-term obligations maturing in 2021 and refinance working capital of its subsidiaries,” the company said in a statement to mark the listing with the Philippine Dealing and Exchange Corp (PDEx). The offering is part of Cirtek’s P6-billion commercial paper program. Multinational Investment Bancorporation acted as its sole arranger and lead underwriter.

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