DoubleDragon Corp. said Tuesday it obtained an Issue Credit Rating of PRS Aaa (Triple A) from the Philippine Rating Services Corp. (PhilRatings) for its proposed retail bond issuance of up to P10.9 billion.
DoubleDragon said it expects to launch the retail bond offering in September 2025. The issuance, dubbed the “Double-Seven” bond, will carry a 7.7-percent fixed interest rate with tenors of 3.5 years and 5.5 years.
“This proposed DD double-seven retail bond issuance is expected to be boosted by the expected upcoming BSP interest rate reduction this week,” the company said in a disclosure to the Philippine Stock Exchange.
“The Double-Seven 7.7-percent interest rate signifies number 7 twice, as 7 is a number believed by many as Lucky and the number forms similar to the shape of an auspicious Dragon,” it said.
The bonds will be issued under the remaining unissued portion of the company’s shelf-registered bond program approved by the Securities and Exchange Commission in 2024.
“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,” the company said.
DoubleDragon in February raised P9.1 billion from a fixed-rate peso bond issuance.
Founded by Edgar Sia II (Mang Inasal) and Tony Tan Caktiong (Jollibee), DoubleDragon has built a diversified portfolio of investment properties across the Philippines and overseas.
The company also developed Hotel101, a unique asset-light hotel concept designed to be scalable and exportable. The brand is expected to contribute to foreign exchange inflows as it expands globally.
As of July, the company had 1.5 million gross floor area of completed recurring revenue hard asset portfolio across hotels, warehouses, office leasing and commercial centers.
Early this month, its hospitality unit, Hotel101 Global, reported plans to develop two large-scale hotels in Cambodia.
