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The Securities and Exchange Commission approved the P10-billion bond shelf registration program of DoubleDragon Corp., the company said in a disclosure to the stock exchange Monday.
DoubleDragon said it planned to use the proceeds from the fund-raising activity to partially refinance the redemption of its P9.7-billion fixed rate bonds which will mature this month. “On top of that, 8 is also believed by many to be an auspicious or ‘swerte’ number and having two 8’s in the coupon rate could be even more auspicious,” he said.DoubleDragon hired RCBC Capital Corp., Unicapital Inc. and Development Bank of the Philippines as joint issue managers, joint lead underwriters, bookrunners and selling agents for this transaction.
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