CIRTEK Holdings Philippines Corp. secured the order of registration and the certificate of permit to offer securities for the shelf-registration of P6-billion commercial papers (CPs).
The commercial papers will have an initial tranche of up to P2 billion, succeeding tranches are to be issued within three years from the effectiveness of the registration statement.
In a disclosure to the exchange on Tuesday, Cirtek said the Securities and Exchange Commission issued the authorization on March 26.
The commercial papers are proposed to be issued and listed at the Philippine Dealing & Exchange Corp. on April 28.
Cirtek received a PRS A (corp.) rating from the Philippine Rating Services Corp., which means the company has above average capacity to fulfill financial obligations. However, it also signifies that Cirtek is “somewhat more susceptible” to sudden changes in economic situations.
Shares of Cirtek at the stock exchange inched up by 3.17% or P0.19 on Tuesday, finishing at P6.19 per share. — Keren Concepcion G. Valmonte