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
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