September 13, 2025 | 12:00am
MANILA, Philippines — DoubleDragon Corp., the listed property developer chaired by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, has kicked off its “Double-Seven” retail bond providing aimed toward elevating as a lot as P10.9 billion.
In a inventory change submitting, DoubleDragon stated that it has acquired the allow to promote from the Securities and Alternate Fee (SEC) for its fastened fee peso retail bond providing.
The bonds with tenors of three.5 and 5.5 years will carry a 7.7-percent fastened rate of interest.
The supply interval commenced on Sept. 11 and can finish on Sept. 15, with itemizing on the Philippine Dealing & Alternate Corp. on Sept. 19.
Philippine Score Companies Corp. has assigned a difficulty credit standing of PRS Aaa (Triple A) to the bond situation of as much as P10.9 billion
“The double-seven 7.7 % rate of interest signifies quantity seven twice, as seven is a quantity believed by many as fortunate and the quantity types much like the form of an auspicious dragon,” DoubleDragon stated.
The issuance comes from DoubleDragon’s bond program accepted by the SEC through shelf registration in 2024.
The corporate raised P10 billion from the primary tranche of its multi-year P30-billion shelf registration retail bonds program in November final 12 months and raised P9.1 billion from one other retail bond providing in February.
The ultimate third tranche was beforehand deliberate for issuance by subsequent 12 months, however DoubleDragon stated it was determined that the retail bond tranche can be issued earlier to capitalize on the September issuance window throughout which it will likely be the one bond providing out there.
“The pipeline capital initiatives at this stage of DoubleDragon’s development is meant to additional enhance its money place and additional strengthen its steadiness sheet – all consistent with DoubleDragon’s purpose to change into a Tier-1 mature firm this 12 months, ” it stated.