DoubleDragon Corp., the real estate firm led by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, has secured approval from the Securities and Exchange Commission (SEC) for its planned P10-billion, 7-year Peso Retail Bond Offering.
In a stock exchange report on Monday, the company said the SEC issued the Order of Registration and Permit to Sell on 31 January.
Additionally, the bonds have been assigned a top-tier Issue Credit Rating of PRS Aaa by the Philippine Rating Services Corp. (PhilRatings), reflecting DoubleDragon’s strong financial position and minimal default risk.
The company also holds an Issuer Credit Rating of PRS Aaa, making it one of the few Philippine firms with the highest credit rating.
DoubleDragon noted that this will be its only Peso Retail Bond issuance for 2025. It represents the second tranche under its SEC-approved bond program via shelf registration in 2024, with a final tranche expected in 2026.
The proceeds of the fundraising are intended to strengthen the company’s balance sheet and support its long-term growth initiatives.
It will support its goal of becoming a Tier-1 mature company by 2025.
Carrying a coupon rate of 7.77 percent per annum, the bonds will be available for subscription from 3 to 14 February with a minimum investment of P50,000.
The issuance is set for listing on the Philippine Dealing & Exchange Corp. (PDEx) on 21 February.
LandBank, RCBC Capital Corporation and Unicapital Inc. are serving as Joint Issue Managers, Joint Lead Underwriters and Bookrunners for the offering.