Property firm to issue P10.9-billion retail bonds 

Despite market expectations of a policy rate cut by the Bangko Sentral ng Pilipinas (BSP) this month, property developer DoubleDragon Corp. is moving ahead with a substantial bond offering at a fixed rate of 7.7 percent.

In a disclosure to the Philippine Stock Exchange, the company announced plans to issue P10.9 billion worth of peso retail bonds in September 2025, with tenors of 3.5 years and 5.5 years. The issuance will utilize the remaining unissued portion from its bond program approved by the Securities and Exchange Commission in 2024 via shelf registration.

The company noted that the timing was deliberate, aiming to take advantage of what it called the “September 2025 issuance window,” during which its “DD Double-Seven Peso Retail Bond” will be the sole offering in the market.

PhilRatings has assigned DoubleDragon its highest Issuer Credit Rating of PRS Aaa, underscoring strong creditworthiness. This follows the firm’s recent successful $70-million US-dollar bond issuance.

DoubleDragon said the capital raised will support its growth strategy, bolster its cash reserves, and further strengthen its balance sheet, in line with its goal of becoming a “Tier-1 mature company” by the end of 2025.

The company’s portfolio includes titled investment properties in prime locations across Luzon, Visayas, Mindanao, and overseas, which it says provides a “solid underlying foundation” for future expansion. As of its latest report, DoubleDragon’s net debt-to-equity ratio stood at 0.87 times, with total equity at P102 billion.