DoubleDragon Corporation has duly received the Fixed Rate Retail Bonds Order of Registration and Permit to Sell from the Securities and Exchange Commission (SEC). The 3.5-year DoubleDragon Retail Bond Offering has been priced at 8.008% p.a.
Joint Issue Managers, Joint Lead Underwriters, Bookrunners and Selling Agents are RCBC Capital Corporation, Unicapital, Inc. and DBP (Development Bank of the Philippines); and EastWest Bank as Selling Agent.
DoubleDragon Corporation has duly received the Order of Registration and Permit to Selldated June 28, 2024, from the Securities and Exchange Commission (SEC) in relation to its 3.5-year Retail Bond Offering.
Rating:
Triple A – The Philippine Rating Services Corporation (PhilRatings) has assigned an Issue Credit Rating of PRS Aaa to DoubleDragonCorporation’s (DoubleDragon) proposed bond issue of up to ₱10Billion.
Coupon Rate: 8.008% per annum
Offer Period: up to July 10, 2024
PDEx Listing Date: July 16, 2024
Minimum: Fifty Thousand Pesos (Php 50,000)
Joint Issue Managers, Joint Lead Underwriters, Bookrunners:
RCBC Capital Corporation
Unicapital, Inc
DBP (Development Bank of the Philippines)
Selling Agents:
RCBC Capital CorporationUnicapital, Inc
DBP (Development Bank of the Philippines)
EastWest Bank
PhilRatings likewise assigned an Issuer Credit Rating of PRS Aaa (Triple A) to DoubleDragon Corporation. DoubleDragon is also one of the few companies in the Philippines with credit rating PRS Aaa (Triple A) from Philippine Rating Services Corporation, the highest rating tier by PhilRatings.
“We are glad to tap the Peso Retail Bond market again after over 5 years. We believe that the Pricing of this DD Retail Bond Offering at 8.008% will enable a wide range of people to avail of the good coupon rate for a Triple A rated retail bond and given the minimum investment size of only 50,000 pesos. On top of that, 8 is also believed by many to be an auspicious or ‘swerte’ number and having two 8’s in the coupon rate could be even more auspicious,” said DoubleDragon Chairman Edgar “Injap” Sia.
“I personally believe that 2024 could be the very last year in my entrepreneurial journey that the retail public can participate with a retail bond priced at 8.008% coupon rate given that not only that DoubleDragon is nearing the Bluechip level of Balance Sheet but also the Global high interest cycle is starting to shift to downward interest rate cycle,” added Mr. Sia.
DoubleDragon’s Total Equity is set to exceed Php100 Billion for the first time in 2024. The Company is positioned to become one of the few companies in the Philippines with Total Equity at 12 digit level. DoubleDragon happens to be one of the very few companies that has not only positioned a diversified hard asset portfolio spread out across the Philippines, but it also happens to be one of the very few that has organically developed a novel asset-light concept and highly unique business model in Hotel101 (HBnB) that is portable and exportable to other continents globally. The export of Hotel101 is expected to eventually become one of the major US Dollar inflow generator to the Philippine economy.
DoubleDragon’s string of titled investment properties strategically planted in prime locations spread out in Luzon, Visayas, Mindanao and Overseas serves as its strong underlying solid foundation.
On top of its string of diversified hard assets portfolio in the Philippines, DoubleDragon happens to be one of the few companies in the Philippines that was able to organically develop a novel and unique business model and brand in Hotel101 that is highly portable and exportable to multiple continents.
The upcoming Hotel101 Global listing in the US will further strengthen DoubleDragon’s balance sheet.
DoubleDragon Corporation recently reports Consolidated Net Income grew +23.25% year-on-year to Php15.93 Billion for the year ending December 31, 2023, with Consolidated Revenues at Php24.74 Billion for the same period.
Total Assets of the Company are up +15.59% year-on-year to Php181.24 Billion as of December 31, 2023. Total Equity grew +15.88% year-on-year to Php94.57 Billion as of December 31, 2023. DoubleDragon’s Debt-to-Equity ratio stood at a very healthy 0.64x as of December 31, 2023.
DoubleDragon Corporation is chaired and co-chaired by two Filipino entrepreneurs — Mang Inasal Founder, Edgar “Injap” Sia II and Jollibee Founder, Tony Tan Caktiong.
