DoubleDragon plans to raise P10b from bond market

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DoubleDragon Corp. said Monday it will raise up to P10 billion from the offering of fixed-rate retail bonds.

PhilRatings also assigned an issuer credit rating of PRS Aaa to DoubleDragon, making it one of the few companies in the Philippines with a credit rating of PRS Aaa . The company has been aggressively expanding its leasing portfolio with the construction of provincial community malls, warehouse complexes, office buildings and hotels.DoubleDragon, which has invested in a diversified hard asset portfolio spread out across the Philippines, earlier said its total equity would exceed P100 billion for the first time this year.

Its subsidiary Hotel101 Global is set to list on the Nasdaq in the United States via a merger with a special purpose acquisition company.

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