Advertisement

FLI, DoubleDragon tapping debt market

DoubleDragon Properties Inc. and Filinvest Land Inc. are tapping the debt market to take advantage of the current low interest environment to fund projects.

DoubleDragon Properties Corp. said Thursday in a disclosure to the stock exchange it hired banks to arrange a dollar-denominated bond offering to finance capital expenditures and fund maturing debt.

The company hired Credit Suisse and PNB Capital as joint lead managers and joint bookrunners to arrange a series of fixed income investor calls starting 16 July 16, 2020.

“Net proceeds from the issue of the Bonds are expected to be used to finance the Issuer’s capital expenditures, maturing and/or existing obligations, and for general corporate purposes,” DoubleDragon said.

Meanwhile, Filinvest Land said in a disclosure to the stock exchange its board directors authorized the company to file with the Securities and Exchange Commission a shelf registration of a planned issuance of fixed-rate peso denominated retail bonds. It did not provide details. 

Topics: DoubleDragon Properties Inc. , Filinvest Land Inc. , capital expenditures
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by manilastandard.net readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of manilastandard.net. While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementSpeaker GMA
Advertisement