DD’s P10-B bonds secure top rating
As of December 2023, DoubleDragon has P181.24 billion worth of total assets and equity of P94.57 billion
DoubleDragon Corp., the real estate company led by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, has secured the highest rating for its planned P10-billion retail bond issuance.
The company said on Monday that its board-approved issuance earned an Issue Credit Rating of PRS Aaa from the Philippine Rating Services Corp. (PhilRatings).
Similarly, PhilRatings granted the company an Issuer Credit Rating of PRS Aaa (Triple A).
Among Philippine businesses, DoubleDragon stands out as one of the few to hold a PRS Aaa (Triple-A) credit rating from PhilRatings, demonstrating the company’s strong ability to meet its financial commitments and maintain creditworthiness.
The company’s retail issuance came ahead of the upcoming Hotel101 Global listing in the United States, which is anticipated to further strengthen its balance sheet.
As of December 2023, DoubleDragon has P181.24 billion worth of total assets and equity of P94.57 billion.
For the first time this year, DoubleDragon is poised to exceed P100 billion in total equity.
Portable hotel brand
DoubleDragon stands apart from most companies in the Philippines, as it has organically developed a highly portable and exportable unique business model and brand, Hotel101.
The company’s subsidiary, Hotel101, operates on an asset-light business model and aims to become a major homegrown brand and business model export, generating significant US dollar inflows to the country.
Hotel101 intends to enhance the globally recognized Filipino brand of hospitality in each country where it operates.
DoubleDragon’s local portfolio of titled hard assets is strategically located in Luzon, Visayas and Mindanao and is projected to reach full maturity by 2025.
DoubleDragon operates modern community malls in remote areas like Cotabato City, Koronadal City, Dipolog City and Isulan, Sultan Kudarat, stimulating local economies and promoting balanced economic growth in rural regions.