DoubleDragon bond sale breaches cap

DoubleDragon Corp., the real estate firm led by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, reported that its latest peso retail bond sale was oversubscribed just two days into the offer period—triggering the activation of its oversubscription option.

In a disclosure on Monday, the company said the bond offering had already booked more than twice its base offer by 12 September.

“The retail bond offer already exceeded over 80% of the total base plus maximum oversubscription offer as early as Day 2 of the Offer Period,” DoubleDragon said. Investors only have until 5 PM today to finalize their orders.

DoubleDragon’s P10.9-billion retail bond, carrying a 7.7 percent annual yield with tenors of 3.5 and 5.5 years, will be listed on the Philippine Dealing and Exchange Corp. on Friday, 19 September. 

The offer, with a minimum investment of P50,000, is part of a program cleared by the SEC in 2024. DoubleDragon said proceeds will boost its cash position and strengthen its balance sheet.