DoubleDragon Properties to offer additional 7¼% bonds due 2025

By William Gullotti

Buffalo, N.Y., Feb. 22 – Philippines’ DoubleDragon Properties Corp. has mandated UBS AG Singapore Branch to arrange an additional offering of its 7¼% senior guaranteed bonds due 2025 (ISIN: XS2207972790), according to a notice on Tuesday.

As with the initial $75 million July 21, 2021 issue, the Regulation S tap offering will be issued by wholly owned subsidiary DDPC Worldwide Pte. Ltd. and guaranteed by DoubleDragon.

Any additional bonds issued will be consolidated with the original issue to form a single series.

Proceeds from the offering will be used for refinancing certain obligations, to pay down short-term credit facilities, to fund DoubleDragon’s Hotel 101 expansion and for general corporate purposes.

The real estate developer is based in Makati City, Philippines.

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