DoubleDragon Lists Maiden Bonds on PDExPosted on: December 15, 2016
15 December 2016, Makati Philippines – DoubleDragon Properties Corp. (DD) debuted in the local debt market with the listing of its PhP 5.3 Billion DD Fixed Rate Bonds Due 2026.
DoubleDragon’s listed bonds, which carry an interest rate of 5.9721% per annum, have been rated “PRS Aa” by the Philippine Rating Services Corporation. The offer forms the initial tranche of DD’s Shelf Registration of up to PhP 15 Billion.
PDS Group President and CEO Cesar B. Crisol said in his welcome remarks: “It is heartening to know that the company exercised its oversubscription option, indicating the strong demand for the offer. The response to these bond issuances signal strong investor sentiment towards a brand of reliability and competitiveness DoubleDragon has built over the years. And as Double Dragon remains bullish on its rapidly growing business endeavours to meet the needs of the industry, we are certain that our newest issuer will return to this marketplace to continue their groundwork and give the investor base the opportunity to access a wider set of investment options that will help them achieve their financial goals.”
DoubleDragon’s Chief Investment Officer and Corporate Finance Head Marriana H. Yulo remarked: “It’s been a real milestone year for the Company and we would have not been able to accomplish what we have without the valued support of our regulators, the SEC, the PSE and now the PDS Group as well as the consistent support our joint lead underwriters, BPI Capital and RCBC Capital whose teams we have worked closely with from the beginning of this year.”
This sixteenth listing for the year brings the year-to-date total of new listings to P136.46 billion and increases the total level of tradable corporate debt instruments to PhP 646.92 billion issued by 40 companies, comprised of 116 securities.
The event was held at the PDS Group Assembly Hall and was graced by DoubleDragon’s Chairman and CEO Edgar J. Sia II, DD Co-Chairman Tony Tan Caktiong, DD President Ferdinand J. Sia, DD Treasurer and CFO Rizza Marie J. Sia and DD Chief Investment Officer and Corporate Finance Head Marriana H. Yulo.
The issue participants were also present including BPI Capital Corporation President Juan Carlos L. Syquia and Senior Managing Director Reginaldo Anthony B. Cariaso, and RCBC Capital Corporation President and CEO Jose Luis F. Gomez.#