Hybrid rice seeds producer-SL Agritech Corp. (SLAC) has raised nearly P2 billion through another commercial paper issuance as the company gears for local and overseas expansion. On Wednesday, Dec. 20, SLAC formally listed its P1.86 billion worth of short-term commercial papers at the country’s bond
Published December 18, 2020, 12:55 PM
SL Agritech Corporation (SLAC), the country’s biggest hybrid rice seeds producer, has returned to the local debt market to raise P2 billion, capping this year’s listing at the country’s bond bourse, Philippine Dealing & Exchange Corp. (PDEx).
As a result, PDEx President and Chief Operating Officer Nino Nakpil said that despite the COVID-19 pandemic, the total debt issuance at the bond bourse this year still rose to a record of P388 billion, surpassing last year’s total listing of P375 billion.
“This is good momentum for next year,” Nakpil said during the virtual listing ceremony for SLAC’s newest commercial paper issuance worth P1.57 billion.