DoubleDragon Received Approval from the SEC to Offer a 5.5-Year Fixed Retail Bond

​DoubleDragon Corporation has duly received the Order of Registration and Permit to Sell dated November 8, 2024, from the Securities and Exchange Commission (SEC) in relation to the SEC approval of its 5.5-year Retail Bond Offering.

​Rating: Triple A - The Philippine Rating Services Corporation (PhilRatings) has assigned an Issue Credit Rating of PRS Aaa to DoubleDragon Corporation’s (DoubleDragon) proposed bond issue of up to P10 Billion.
 
Coupon Rate: 8% per annum
Offer Period: November 11 to November 20, 2024
PDEx Listing Date: November 27, 2024
Minimum: Fifty Thousand Pesos (P50,000)
 
Joint Issue Managers, Joint Lead Underwriters, Bookrunners:
LANDBANK
RCBC Capital Corporation
Unicapital, Inc
 
Selling Agents:
RCBC Capital Corporation
LANDBANK
Unicapital, Inc
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 to capture an even wider stakeholder base into DoubleDragon’s ecosystem. We believe that the Pricing of this DD Retail Bond Offering at 8% 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, number 8 is also believed by many to be auspicious or 'buenas', hence Otso-Buenas,” said DoubleDragon Chairman Edgar “Injap” Sia.

The pipeline capital-raising issuances at this stage of DoubleDragon’s growth is intended to further boost its financial position through further increasing its cash position. For the past ten (10) years since DoubleDragon listed in the Philippine Stock Exchange last April 2014, majority of the series of capital-raising issuances were all deployed in building up its hard asset recurring revenue portfolio from zero to now 1.3 million square meters of completed GFA (Gross Floor Area). But from 2025 onwards, these portfolio built in the past 10 years will already be all fully completed and fully built up and are expected to all start generating optimal revenues year on year, while requirements for further substantial capital expenditure will no longer be needed in the near term —all in line with the DoubleDragon’s goal to become a Tier-1 mature company by next year 2025.
 
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 net Debt-to-Equity ratio continued to stay at a healthy 0.69x as of June 30, 2024. At any given time, the Company expects its D/E Ratio to be very far below its D/E Ratio ceiling.
 
Total Assets increased to P191.29 Billion in the first six months ending June 30, 2024. Total Equity increased to P95.15 Billion in the first six months ending June 30, 2024 making DoubleDragon on track to exceed P100 Billion in Total Equity for the first time in 2024. 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.
 
DoubleDragon’s nationwide Philippine portfolio of titled hard assets footprint strategically located in Luzon, Visayas and Mindanao, is expected to fully mature by 2025 and expected to exceed over P250 Billion asset value by 2030 (excluding DoubleDragon’s overseas asset portfolio).
 
DoubleDragon has already completed a portfolio of over 1.3 million square meters GFA positioned strategically in various parts of Luzon, Visayas and Mindanao and only in select sunrise real estate sectors of provincial retail leasing with its string of CityMall community centers, its office buildings in DD Meridian Park complex in Bay Area Pasay and the 42-storey Jollibee Tower in Ortigas CBD, its string of CentralHub warehouse complexes, and its string of Hotel101 hotels in the Philippines and overseas.

DoubleDragon Corporation is chaired and co-chaired by two Filipino entrepreneurs —Mang Inasal Founder, Edgar “Injap” Sia II and Jollibee Founder, Tony Tan Caktiong.