Phoenix redeems P1 25B in preferred shares, settles P3B in IOUs inquirer.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.net Daily Mail and Mail on Sunday newspapers.
PRC / MANILA BULLETIN
Since the end of last year until the beginning of 2020, PRC said that it has been able to respond to a series of disasters such as the Mindanao earthquake, the Taal volcanic eruption, the COVID pandemic, as well as consecutive typhoons “Rolly” and “Ulysses” due to the help of its partners and donors.
PRC Chairman and Chief Executive Officer Sen. Richard Gordon noted that in every response, donors were within reach, enabling the PRC help those who have been affected.
“As we move forward, we look back in a tumultuous year – (the) Philippine Red Cross has been in the heart of calamities and the pandemic, providing response and relief to the most vulnerable,” he added.
Published December 15, 2020, 6:30 AM
The board of directors of Phoenix Petroleum Philippines Inc. has approved the settlement of the P3.0 billion commercial papers that the firm issued on December 5 last year.
The Uy-led company apprised the Philippine Stock Exchange (PSE) that the CP issuance had a tenor of 360 days, hence, its maturity will be in December this year.
It must be noted that Phoenix Petroleum had undertaken several CP issuances last year, as part of the two-series P10 billion worth of commercial papers program that the company had registered with the Securities and Exchange Commission (SEC) in 2018.
Commercial paper is a form of unsecured, short-term debt facility that may be issued by a corporation for its funding needs or debt repayments. It is often offered at a discount from face value and issued on prevailing market interest rates.