{"id":19548,"date":"2024-07-02T03:04:34","date_gmt":"2024-07-02T03:04:34","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/doubledragons-sia-2024-last-chance-for-8-008-retail-bond\/"},"modified":"2024-07-02T03:04:34","modified_gmt":"2024-07-02T03:04:34","slug":"doubledragons-sia-2024-last-chance-for-8-008-retail-bond","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/doubledragons-sia-2024-last-chance-for-8-008-retail-bond\/","title":{"rendered":"DoubleDragon\u2019s Sia: 2024 last chance for 8.008% retail bond"},"content":{"rendered":"<div>\n<p class=\"p3\">LISTED property developer DoubleDragon Corp. (DD) has set the interest rate for its forthcoming 3.5-year retail bond offering at 8.008% per annum.<\/p>\n<p class=\"p4\">\u201cI personally believe that 2024 could be the very last year in my entrepreneurial journey that the retail public can participate with a retail bond priced at 8.008% coupon rate given that not only that DD is nearing the blue chip level of balance sheet but also the global high interest cycle is starting to shift to downward interest rate cycle,\u201d DD Chairman Edgar \u201cInjap\u201d J. Sia II said in a statement on Monday.<\/p>\n<p class=\"p4\">This retail bond offering represents the initial segment of DD\u2019s shelf-registered debt securities program, which totals up to P10 billion. The offering includes a principal amount of up to P3 billion, with an oversubscription option of up to P3 billion.<\/p>\n<p class=\"p4\">DD said the offer period commenced on June 28 and will run until July 10, with listing on the Philippine Dealing &amp; Exchange Corp. scheduled for July 16.<\/p>\n<p class=\"p4\"><span class=\"s1\">According to its final prospectus dated June 27, the company anticipates generating over P5 billion in net proceeds assuming full exercise of the oversubscription option.<\/span><\/p>\n<p class=\"p4\"><span class=\"s1\">These proceeds are intended to partially finance the redemption of DD\u2019s P9.7-billion fixed-rate bonds issued in July 2017, as well as to cover overhead expenses including working capital requirements.<\/span><\/p>\n<p class=\"p4\"><span class=\"s1\">The 3.5-year retail bond offering has received a \u201cPRS Aaa\u201d rating with a stable outlook from the Philippine Rating Services Corp. (PhilRatings). This rating denotes minimal credit risk, and the stable outlook indicates an expectation of the rating remaining unchanged over the next twelve months.<\/span><\/p>\n<p class=\"p4\">DD has engaged RCBC Capital Corp., Unicapital, Inc., and Development Bank of the Philippines as joint lead underwriters and bookrunners for the issuance.<\/p>\n<p class=\"p4\">\u201cWe are glad to tap the peso retail bond market again after over five years. We believe that the pricing of this DD retail bond offering at 8.008% will enable a wide range of people to avail of the good coupon rate for a Triple\u00a0A-rated retail bond and given the minimum investment size of only P50,000,\u201d Mr. Sia said.<\/p>\n<p class=\"p4\">\u201cOn top of that, 8 is also believed by many to be an auspicious or\u00a0\u2018<i>swerte<\/i>\u2019 (lucky)\u00a0number and having two 8s in the coupon rate could be even more auspicious,\u201d he added.<\/p>\n<p class=\"p4\">For 2024, DD anticipates surpassing P100 billion in total equity for the first time.<\/p>\n<p class=\"p4\">The company also expects a strengthened balance sheet following the upcoming listing of its hotel subsidiary, Hotel101 Global Pte. Ltd., on the Nasdaq Stock Exchange in the United States.<\/p>\n<p class=\"p4\"><span class=\"s2\">Hotel101 Global will trade on Nasdaq under the ticker symbol \u201cHBNB\u201d following its execution of a binding definitive merger agreement with special purpose acquisition company JVSPAC Acquisition Corp.<\/span><\/p>\n<p class=\"p4\">Last year, DD saw a 23.25% increase in its consolidated net income to P15.93 billion as consolidated revenue climbed by 75% to P24.74 billion.<\/p>\n<p class=\"p4\">DD shares declined by 1.65% or 20 centavos, closing at P11.90 per share on Monday. \u2014 <b>Revin Mikhael D. Ochave<\/b><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div>LISTED property developer DoubleDragon Corp. (DD) has set the interest rate for its forthcoming 3.5-year retail bond offering at 8.008% per annum. \u201cI personally believe that 2024 could be the very last year in my entrepreneurial journey that the retail public can participate with a retail bond priced at 8.008% coupon rate given that not [\u2026]<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[1251,18590,8478,14644,636,18591,168,3109,9383,18592],"class_list":["post-19548","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-1251","tag-8-008","tag-bond","tag-bworldonline","tag-chance","tag-doubledragons","tag-for","tag-last","tag-retail","tag-sia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DoubleDragon\u2019s Sia: 2024 last chance for 8.008% retail bond - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/doubledragons-sia-2024-last-chance-for-8-008-retail-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DoubleDragon\u2019s Sia: 2024 last chance for 8.008% retail bond - Energy Buzz\" \/>\n<meta property=\"og:description\" content=\"LISTED property developer DoubleDragon Corp. 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