“As DoubleDragon continues to expand in the Philippines and overseas, the solid support of the investing public demonstrated in this retail bond offering means a lot,” the company said in a statement on Tuesday.
The 5.5-year bonds, rated AAA by PhilRatings, will offer an 8 percent annual coupon rate.
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 very glad about the early oversubscription outcome of this DD Otso-Buenas peso retail bond offering, enabling DoubleDragon to capture an even wider stakeholder base into DoubleDragon’s ecosystem,” said DoubleDragon chair and CEO Edgar “Injap” Sia.
“We are deeply grateful for the trust and confidence of the investing public, as shown in this retail bond offering. This will further inspire our whole team to continue the grit and hard work that we believe is essential to enable DoubleDragon to reach greater heights and become more and more relevant and durable as years go forward,” he added.
