Listed property developer DoubleDragon Corp. on Thursday officially launched the public offering of its 7.7% fixed-rate retail bonds, following regulatory approval from the Securities and Exchange Commission.
The company aims to raise up to ₱10.9 billion from the issuance, which has been awarded the highest possible credit rating—PRS Aaa (Triple A)—by local rating agency Philippine Rating Services Corp.
The offering period will run until September 15, with the bonds slated for listing on the Philippine Dealing and Exchange Corp. on September 19.
Available in 3.5-year and 5.5-year tenors, the bonds are expected to draw strong investor interest, especially after the recent policy rate cut by the Bangko Sentral ng Pilipinas.
RCBC Capital Corporation and UNICAPITAL, Inc. are acting as joint lead managers and underwriters, while Land Bank of the Philippines and EastWest Bank serve as selling agents.
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