DoubleDragon Properties Inc. plans to hold a P10-billion retail bond offering next month.
DoubleDragon in a registration statement filed with the Securities and Exchange Commission set the offering period for the bonds from Nov. 11 to 17.
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DoubleDragon plans to use nearly half of the proceeds to finance land development and construction of CityMalls.
It also plans to use part of the proceeds to finance the construction of five to 10 CityMalls outlets and acquisition of 12 to 19 CityMall sites.
The 10 CityMalls currently under construction are in Sultan Kudarat, Surigao City, San Jose Antique, Ozamiz City, Pagadian City, Calamba Laguna, Palo Leyte, Ormoc City, Pangasinan and Sorsogon City.
