By Rebecca Melvin
New York, July 21 – Philippines’ DoubleDragon Properties Corp. said it is issuing $75 million 7¼% senior guaranteed bonds due 2025, according to a filing with the Singapore Exchange Securities Trading Ltd.
The issuance is being executed via a subscription agreement with Credit Suisse (Singapore) Ltd. and PNB Capital and Investment Corp. as joint lead managers and joint bookrunners.
The bonds will be listed.
The proceeds of the new bond will be used to increase the cash position of the company. The company is also planning a PHP 26.97 billion real estate investment trust initial public offering, which will also be used to increase the cash position of the company.
As previously reported, the Regulation S-only notes are expected to be issued by wholly owned subsidiary DDPC Worldwide Pte. Ltd. and guaranteed by DoubleDragon.
The real estate developer is based in Makati City, Philippines.
| Issuer: | DDPC Worldwide Pte. Ltd.
|
| Guarantor: | DoubleDragon Properties Corp.
|
| Issue: | Senior guaranteed bonds
|
| Amount: | $75 million
|
| Maturity: | 2025
|
| Bookrunners: | Credit Suisse (Singapore) Ltd. And PNB Capital and Investment Corp.
|
| Coupon: | 7¼%
|
| Distribution: | Regulation S
|
| Concurrent issue: | PHP 26.97 billion stock IPO
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
