<article><a style="color: #000080;" href="http://doubledragon.com.ph">DoubleDragon Properties Corp</a> has raised up to $102 million (P5.3 billion) from its retail bonds offer exceeding its P5 billion base offer realising substantial build up of demand.</article>

<a style="color: #000080;" href="http://doubledragon.com.ph">DoubleDragon Properties Corp</a> has raised up to $102 million (P5.3 billion) from its retail bonds offer exceeding its P5 billion base offer realising substantial build up of demand.
The real estate developer saw strong demand for the offer especially among retail investors, banks, pension funds, insurance companies and retirement funds.
This triggered DoubleDragon, through its joint lead underwriters, to exercise an additional P300 million from the oversubscription option to accommodate the orders, which exceeded the initial base offer size of P5 Billion.
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The offer period, which commenced on November 29, 2016, officially ended on December 7, 2016 and the retail bonds will be issued on December 15, 2016.
The P5.3 billion 10 Year Fixed Rate Retail Bond, at 5.9721 per cent per annum, marks the first tranche to be issued from DoubleDragon’s P15 Billion bond shelf registration with the Securities and Exchange Commission (SEC).
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&#8220;The entire amount of P15 billion recently approved by the SEC is expected to complete the fund requirements of all the company’s core projects in the pipeline in relation to its goal of 1,000,000 sqm leasable space by 2020 and profit target of P4.8 Billion by 2020,&#8221; DoubleDragon said in its statement.
DoubleDragon last Thursday, through its subsidiary CityMall Commercial Centers Inc, signed a partnership agreement with broadcasting network ABS-CBN in the bid to roll out cinemas in 140 provincial areas of the Philippines.
DoubleDragon&#8217;s last trading price increased 1.04 per cent or P0.400 to close at P38.90.
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Philippines: DoubleDragon Properties raises $106m from bond offering

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Philippines: DoubleDragon Properties raises $106m from bond offering

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