Daily TribuneDoubleDragon said the optimism came after investors snapped up its recent bond issuance, which pushed joint issue managers and book runners to end the offer on 5 July, five days ahead of the original schedule of 10 July.
DoubleDragon Corp
Fresh from a return to the bonds market, real estate giant DoubleDragon Corp. intends to introduce a new tranche of retail bonds in response to investors clamor for the debt instrument.
“DoubleDragon is pleased to announce that another tranche of DD retail bond offering will be facilitated very soon,” the company informed the local bourse on Monday.
DoubleDragon said the optimism came after investors snapped up its recent bond issuance, which pushed joint issue managers and book runners to end the offer on 5 July, five days ahead of the original schedule of 10 July.
“We seek the understanding of the investing public for cutting short the DD retail bond offer period due to oversubscription.
"DoubleDragon has not issued any peso retail bond for over 5 years and DD is extremely grateful to the unwavering support of the investing public on its return to the retail bond market,” the company said.
DoubleDragon’s latest retail bond offering has a coupon rate of 8.008 percent per annum as approved by the Securities and Exchange Commission.
The bonds earned an Issue Credit Rating of PRS Aaa from the Philippine Rating Services Corp. (PhilRatings). Similarly, PhilRatings granted the company an Issuer Credit Rating of PRS Aaa (Triple A).
The company's retail issuance came ahead of the upcoming Hotel101 Global listing in the United States, which is anticipated to further strengthen its balance sheet.
For the first time this year, DoubleDragon is poised to exceed P100 billion in total equity.
DoubleDragon's local portfolio of titled hard assets is strategically located in Luzon, Visayas, and Mindanao and is projected to reach full maturity by 2025.
As of December 2023, DoubleDragon has P181.24 billion worth of total assets and equity of P94.57 billion.
