By Rebecca Melvin
Concord, N.H., March 9 – Philippines’ DoubleDragon Corp. subsidiary DDPC Worldwide Pte Ltd. priced a $55 million add-on to the company’s 7¼% senior guaranteed bonds due 2025, according to a disclosure announcement.
The Regulation S notes came at par.
The company priced $75 million of the bonds on July 27, 2020.
UBS was the global coordinator.
RCBC Capital and PNB Capital were lead managers of the tap.
Proceeds will be used to refinance corporate notes, pay down short-term credit facilities, expansion of the company’ Hotel 101 and for general corporate purposes.
The real estate developer is based in Makati City, Philippines.
| Issuer: | DDPC Worldwide Pte. Ltd.
|
| Guarantor: | DoubleDragon Corp.
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| Issue: | Senior guaranteed bonds
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| Amount: | $55 million tap
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| Maturity: | July 7, 2025
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| Bookrunners: | UBS, PNB Capital, RCBC Capital
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| Coupon: | 7¼%
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| Price: | Par of $100
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| Yield: | 7¼%
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| Settlement date: | March 16
|
| Distribution: | Regulation S
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| ISIN: | XS2207972790
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| Total deal size: | $130 million
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