CIRTEK Holdings Philippines Corp. has ensured a registry order and license certificate to sell P6-billion commercial paper shelf-registration securities (CPs).
The first tranche of exchange documentation would be up to P2 billion, and subsequent tranches must be released in three years’ time from the effectiveness of the declaration of registration.
Cirtek informed the Securities and Exchange Commission in a Tuesday exchange disclosure that the authorisation had been granted on 26 March.
On April 28 the publication and naming of company papers will be proposed by Philippine Dealing & Trade Corp.
Cirtek earned the Philippine Rating Services Corp. PRS A (Corp.) rating, indicating that the organization is willing to satisfy its financial commitments at a better than normal. It also means, though, that Cirtek is “slightly more likely” to face abrupt economic shifts.