Daily Tribune
DoubleDragon Corporation's P10-billion, 7-year Peso Retail Bond Offering has been assigned a top-tier Issue Credit Rating of PRS Aaa by the Philippine Rating Services Corp., reflecting DoubleDragon’s strong financial position and minimal default risk.
Photograph courtesy of DoubleDragon Corp.
DoubleDragon Corp., the real estate firm led by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, is set to raise up to P10.9 billion in September through the issuance of Double-Seven Peso Retail Bonds to strengthen cash and balance sheet position.
In a disclosure on Tuesday, the company said its Board of Directors approved the bond sale, which will carry a fixed interest rate of 7.7 percent and tenors of 3.5 and 5.5 years.
The issuance is part of the unissued portion of its 2024 shelf registration program approved by the Securities and Exchange Commission.
“This Retail Bond Tranche was decided to be issued earlier to capitalize on the September 2025 issuance window during which the DD Double-Seven Peso Retail Bond will be the only bond offering in the market,” DoubleDragon said.
Philippine Rating Services Corp. (PhilRatings) has assigned DoubleDragon an issuer credit rating of PRS Aaa, the highest rating tier. The company is among the few in the Philippines with this top rating.
With total equity now standing at P102 billion, DoubleDragon has a net debt-to-equity ratio of 0.87 times. It holds a diversified portfolio of titled investment properties across Luzon, Visayas, Mindanao, and overseas.
