DD retail bonds twice oversubscribed; offer closes today

DoubleDragon Corporation’s latest retail bond issuance drew strong investor demand, with subscriptions already more than double the base offer as early as the second day of the offer period.

The listed property and retail group said the DD Double-Seven 7.7% Peso Retail Bond Offering has triggered its oversubscription option after bookings exceeded 80 percent of the combined base and maximum oversubscription amount by 12 September.

The offering, which carries a fixed rate of 7.7 percent per annum, has been marketed primarily to retail investors seeking stable peso-denominated investment alternatives.

The offer period closes today, 15 September, with valid orders to be accepted only until 5 p.m. Proceeds from the bond sale are expected to fund the company’s expansion pipeline and strengthen its balance sheet.

DoubleDragon has consistently tapped the domestic bond market in recent years to support its real estate and retail ventures, including its CityMall chain and industrial leasing arm.