SIA AND CAKTIONG-LED DoubleDragon Corp. (DD) said it plans to issue up to P10 billion worth of retail bonds in the first quarter to bolster the company’s cash position and balance sheet.
The issuance will comprise a P5-billion base offer and a P5-billion oversubscription option, DoubleDragon said in a regulatory filing on Thursday.
DoubleDragon said the issuance will be the company’s sole peso retail bond offering for the year. It will be priced at 7.77% per annum and will have a seven-year tenor.
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