DoubleDragon Corp. is set to raise up to P10.9 billion through a peso-denominated retail bond issuance this September, aiming to capitalize on favorable market timing and strengthen its financial position.
In a disclosure, the company confirmed that its board has approved the issuance of fixed-rate bonds under its 2024 shelf registration program with the Securities and Exchange Commission (SEC). The bonds will carry a fixed interest rate of 7.7 percent with tenors of 3.5 and 5.5 years.
Dubbed the DD Double-Seven peso retail bond, the offering will be the only bond available in the market during the September window, a strategic move the company says will allow it to maximize investor attention and demand.
DoubleDragon emphasized that the proceeds will be used to boost liquidity and enhance its balance sheet, aligning with its ambition to become a “Tier-1 mature company” by 2025. The firm recently surpassed P100 billion in total equity, placing it among the few Philippine companies with equity in the 12-digit range.
PhilRatings has affirmed DoubleDragon’s issuer credit rating at PRS Aaa (Triple A), citing its strong financial profile and diversified asset base. The company continues to leverage its portfolio of investment properties across Luzon, Visayas, Mindanao, and select overseas markets, as well as its scalable hospitality platform, Hotel101.
“This retail bond offering forms part of our strategic capital initiatives as DoubleDragon transitions into its next stage of growth,” the company said.
