DoubleDragon raising P10 B from issuance of retail bonds

DoubleDragon Corp., the listed developer chaired by Edgar “Injap” Sia II, is aiming to raise as much as P10 billion from the issuance of retail bonds.

-  RICHMOND MERCURIO

The company said the proposed bond issue has been assigned an Issue Credit Rating of PRS Aaa by local debt watcher Philippine Rating Services Corp. (PhilRatings).

Likewise, the company was assigned an Issuer Credit Rating of PRS Aaa (Triple A) by PhilRatings.

DoubleDragon said it is one of the few companies in the country with a credit rating of PRS Aaa (Triple A), the highest rating tier by PhilRatings.

For this year, DoubleDragon’s total equity is set to exceed P100 billion for the first time, making it one of the few Philippine firms with total equity at 12-digit level.

Total equity of the company expanded by 15.88 percent year-on-year to P94.57 billion as of end 2023.