Philippine Commercial Capital Inc. (PCCI) has secured regulatory approval to proceed with the issuance of P500-million worth of short-term debt instruments without the need to register it, a transaction that could help the company expand its present size and be more competitive.

In an application filed with the Securities and Exchange Com-mission (SEC), PCCI said that it intends to be exempted for the registration of the issuance of P500-million worth of short-term commercial papers (STCP) to not more than 19 persons, including directors, officers, stockholders and related interests.

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