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DoubleDragon to raise P10 B from bond issuance
The Philippine Star
|January 12, 2025
DoubleDragon Corp., the listed property developer owned by Edgar "Injap" Sia II and Tony Tan Caktiong, is eyeing as much as P10 billion from a planned bond issuance to bolster its cash reserves.
The proposed offering, the second tranche of the company's three-year P30 billion shelf registration retail bonds program, will consist of P5 billion bond issuance, with an oversubscription option of up to P5 billion.
The proceeds of the fund raising activity will be used to further boost DoubleDragon's financial position by increasing its cash reserves.
The planned bond issuance has been assigned an issue credit rating of PRS Aaa, with a Stable Outlook by the Philippine Rating Services Corp. (PhilRatings).
This story is from the January 12, 2025 edition of The Philippine Star.
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