Published April 28, 2021, 4:15 PM
Cirtek Holdings Philippines Corporation (TECH) reported that its P1 billion commercial paper (CP) offering was more than four times oversubscribed at a time of monetary easing and consecutive rate cuts by central banks both locally and international.
In a disclosure to the Philippine Stock Exchange, the firm said it will list today its P1 billion worth of CPs with the Philippine Dealing and Exchange Corp as part of TECH’s P6 billion CP Program.
Multinational Investment Bancorporation acted as sole arranger and lead underwriter of the issue.
TECH’s commercial paper offering has been assigned a credit rating of PRS A (corp.) with a Stable Outlook by the Philippine Ratings Services Corporation (PhilRatings).
Cirtek to procure COVID-19 vaccines for over 1,900 employees bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.