A wholly owned unit of DoubleDragon Corp., DDPC Worldwide Pte. Ltd. has successfully priced its $30 million tap offering of its outstanding $130 million, 7.25 percent senior guaranteed notes due 2025 on the Singapore exchange.
DoubleDragon will use proceeds from the offering for the development and construction of Hotel 101-Niseko in Japan as well as for general corporate purposes.
The company is diversifying its funding sources as it prepares itself to grow its business operations inside and outside the Philippines over the long-term.
“DoubleDragon recognizes the value that diverse funding sources and a broad investor base provide for its growth and expansion,” the company said.
It aims to start generating US dollar revenues by the first quarter of 2023.
The company expects to generate $137.3 million in hybrid condotel preselling sales from its first overseas Hotel101 project.