The Daily Tribune
DD retail bonds twice oversubscribed; offer closes today
DoubleDragon Properties Corp. has successfully upsized its retail bond offering to approximately P10.9 billion after the base offer was fully subscribed within two days.
The "Double-Seven" bond issue, which has an annual yield of 7.7 percent, will be listed on the Philippine Dealing and Exchange Corp. on September 19.
Investors can participate with a minimum subscription of P50,000.
These bonds, with tenors of three and a half years and five and a half years, are part of a bond program approved by the SEC in 2024.
DoubleDragon stated that the bond offer aims to enhance its cash position and strengthen its balance sheet.
Philippine Rating Services Corp. (PhilRatings) has assigned the issuance a PRS Aaa rating, indicating a minimal credit risk and a very strong capacity to meet financial commitments.
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