DoubleDragon Corp. is looking to raise P30 billion through a bond sale up until 2026.
“Given the current downtrend in the interest rates, the company expects to issue these retail bond offerings in at least three tranches at 5- to 7-year tenors with rates expected at 8 percent for 2024 issuance, 7 percent for 2025 issuance and 6 percent for 2026 issuance,” DoubleDragon said said.
“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,” it added.
The funding raising plan follows the company’s P10 billion bond sale in July which carry a 8.008 percent coupon.
The company said that majority of its fund raising in the past 10 years since DoubleDragon listed in the Philippine Stock Exchange (PSE) in 2014, were all deployed in building up its hard asset recurring revenue portfolio to the current 1.3 million square meters in gross floor area (GFA).
“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,” it told regulators.
DoubleDragon said that its total equity is set to exceed P100 billion this year, making it one of the few companies in the Philippines with total equity at the 12-digit level.
