Dipping into DoubleDragon (DD) Corp.’s return to the bond market may be the luckiest move yet for investors this year. DoubleDragon announced earlier this week that it had secured permits from the Securities and Exchange Commission to issue up to P10 billion in bonds.
Of course, the property venture of Edgar “Injap” Sia II didn’t miss to also double the luck in the pricing. According to DoubleDragon, the 3.5-year retail bond offering was priced at 8.
008 percent per annum. Sia himself believes that there’s something auspicious going on here. “We are glad to tap the peso retail bond market again after over five years,” Sia said.
“8 is also believed by many to be an auspicious or ‘swerte’ number, and having two 8s in the coupon rate could be even more auspicious,” he pointed out. DoubleDragon has been quite optimistic in the last six months. Earlier, the company said it was targeting to breach the P100-billion total equity mark this year, banking on the success of Hotel101 Global Pte.
Ltd.’s upcoming Nasdaq listing. Let’s hope the luck will spill over to the rest of us.
— Meg J. Adonis The search is on for the new members of the Monetary Board (MB). When you visit the “Who We Are” page on the website of the Bangko Sentral ng Pilipinas (BSP), you might notice that the names of Bruce Tolentino and Anita Linda Aquino are no longer on the list of the seven-member MB, the highest policymaking body of the central bank.
That is because both former BSP off.
