Samuel Ortega Lao
The “accidental” real estate broker from Cebu, Dr. Samuel Ortega Lao, is now the Nationa...
DoubleDragon Corp. plans to conduct a top-up offering of US dollar bonds listed in Singapore Exchange Securities Trading Ltd., according to a report by Manila Times.
The offering consists of a Regulation S tap offering on the issuer's outstanding $160 million, 7.25-percent senior guaranteed notes due 2025, subject to market conditions.
Double Dragon's wholly owned offshore subsidiary, DDPC Worldwide Pte. Ltd., authorized UBS AG as sole global coordinator, lead manager and bookrunner to arrange a series of fixed-income investor calls on March 21, 2023.
"Any bonds issued pursuant to the said offering will be consolidated with and increase the outstanding principal amount of DDPC Worldwide's existing listed maiden USD bonds listed on the SGx-ST," DoubleDragon said.
The firm said the proceeds would be intended for the development and construction of Hotel101 overseas projects and for general corporate purposes as it continues seeking to increase the diversification of its funding sources to grow its business operations inside and outside the Philippines over the long term.
DoubleDragon's share price inched on Tuesday by 8 centavos to P6.70 per share.
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