The 5.5-year bonds, rated Triple A by PhilRatings, will offer an 8 percent annual coupon rate. Investors can participate from Nov. 11 to Nov. 20, 2024, with a minimum investment of P50,000.
The bonds are scheduled to list on the Philippine Dealing & Exchange Corp. by Nov. 27 this year.
Land Bank of the Philippines, Rizal Commercial Banking Corp., and Unicapital are leading the offering as joint issue managers and underwriters.
Management’s view
“We are glad to tap the peso retail bond market again to capture an even wider stakeholder base into DoubleDragon’s ecosystem,” said Sia, the chair of DoubleDragon.
“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 50,000 pesos. On top of that, number 8 is also believed by many to be auspicious or ‘buenas,’ hence Otso-Buenas,” he added.
Taking advantage of attractive rates
“I personally believe that 2024 could be the very last year in my entrepreneurial journey that the retail public can participate with a retail bond priced at 8 percent coupon rate given that not only is DoubleDragon nearing the blue-chip level balance sheet but also the global high interest cycle has already started to shift to a downward interest rate cycle,” Sia said.
DoubleDragon’s ongoing capital-raising efforts aim to strengthen its financial position and boost liquidity, having used past issuances over the last decade to grow its hard asset portfolio from zero to 1.3 million square meters of gross floor area since its 2014 stock exchange listing.
