Insider Spotlight
Strong financial footing
The company disclosed that its net debt-to-equity ratio stands at 0.87 times, among the lowest of listed firms, with total equity now exceeding P102 billion.
This capital structure, together with a portfolio of titled investment properties spread across Luzon, Visayas, Mindanao, and overseas, provides the foundation for the issuance.
Timing the market
The retail bond, priced at 7.7 percent per annum with tenors of 3.5 and 5.5 years, will be the only offering scheduled for September, a window DoubleDragon deliberately seized.
The company expects investor appetite to be buoyed by the anticipated Bangko Sentral ng Pilipinas rate cut this month.
“The Double-Seven 7.7 percent interest rate signifies number 7 twice, as 7 is a number believed by many as lucky and the number forms similar to the shape of an auspicious Dragon,” DoubleDragon said in its disclosure.
Beyond property
While the bond proceeds add liquidity, DoubleDragon is also betting on its Hotel101 venture — a portable, asset-light hospitality model it intends to scale globally. Management sees this as a future generator of U.S. dollar inflows, complementing its Philippine real estate holdings.
The big picture
Chaired by Mang Inasal founder Edgar “Injap” Sia II and co-chaired by Jollibee founder Tony Tan Caktiong, DoubleDragon’s capital markets activity underscores its shift from growth to maturity.
The bond sale is not only about raising funds but also about signaling stability to investors as the firm aims to cement its place as a tier-1 Philippine conglomerate this year.
— Edited by Daxim L. Lucas
