SEC approves Cirtek Holdings’ amended listing of P2-B debt

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CIRTEK Holdings Philippines Corp. said its amended registration of up to P2 billion worth of commercial papers had been approved by the Securities and Exchange Commission on Wednesday.

The debt instruments will be listed at the Philippine Dealing & Exchange Corp. on Feb. 20, 2020.

Cirtek also said that the SEC subsequently issued a certificate of permit to offer securities for sale, authorizing the sale and distribution of the commercial papers (CPs).

“The CPs may be issued in lump-sum or in tranches and shall have an interest rate fixed prior to the issuance,” it said, adding that the succeeding tranches, if any, will be issued within three years from the date of effectivity of the amended registration statement.