DoubleDragon Corp. said Monday it obtained the Securities and Exchange Commission’s (SEC) approval for its planned P10-billion fixed-rate bond offering.
The 5.5-year bonds will carry a coupon rate of 8 percent per annum. The offering will run from Nov. 11 to 20, 2024.
The bonds will be listed on the Philippine Dealing and Exchange Corp. on Nov. 27, 2024.
“We are glad to tap the peso retail bond market again to capture an even wider stakeholder base into DoubleDragon’s ecosystem,” DoubleDragon chairman Edgar Sia II said.
“We believe that the pricing of this DD retail bond offering at 8 percent will enable a wide range of people to avail of the good coupon rate for a Triple A rated retail bond and given the minimum investment size of only P50,000,” Sia said.
The company engaged RCBC Capital, Land Bank of the Philippines and Unicapital as joint issue managers, joint lead underwriters and bookrunners for the transaction.
DoubleDragon said the capital-raising activity would boost its financial position and support its growth.
DoubleDragon has 1.3 million square meters of completed gross floor area of leasing assets, including office buildings, commercial, hotels and industrial warehouses located across the country to date.
The company is buildings its first three Hotel101 overseas projects, which are expected to generate inflows of $471 million (P27.2 billion) in foreign currency revenues.
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