{"id":329438,"date":"2024-09-12T00:33:48","date_gmt":"2024-09-11T16:33:48","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329438"},"modified":"2024-09-12T00:33:50","modified_gmt":"2024-09-11T16:33:50","slug":"trade-the-news-dd-raising-p4-billion-from-2nd-bond-offering","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-dd-raising-p4-billion-from-2nd-bond-offering\/","title":{"rendered":"Trade the News: DD raising P4-billion from 2nd bond offering"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>NEUTRAL on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>DoubleDragon Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>DD<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 10.30<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Just two months after its P6 billion bond issuance, property developer DoubleDragon Corporation is planning to raise P4 billion through the offering of bonds from the second tranche of its P10 billion shelf registered bonds program.<\/p>\n\n\n\n

For this planned issuance, Philippine Rating Services Corporation (PhilRatings) said it has assigned its highest Issue Credit Rating of PRS Aaa, with a Stable Outlook.<\/p>\n\n\n\n

The first tranche of the shelf, which amounted to P6.0 billion, also has an outstanding Issue Credit Rating of PRS Aaa, with a Stable Outlook. It was issued by DoubleDragon last July 16, 2024.<\/p>\n\n\n\n

PhilRatings said DoubleDragon\u2019s bonds were assigned the highest rating and a stable outlook because of its clearly-defined and well-executed growth strategy as well as its experienced management, and its ability to form solid alliances with industry-recognized partners.<\/p>\n\n\n\n

Also taken into consideration is the firm\u2019s conservative financial position, considering the capital-intensive nature of the Company\u2019s business, and expectations of improved operating cashflow, backed by increasing rental income.<\/p>\n\n\n\n

DoubleDragon is a joint venture between two of the Philippines\u2019 highly-successful fast food entrepreneurs: Edgar \u201cInjap\u201d Sia II (founder of Mang Inasal) and Tony Tan Caktiong (founder of Jollibee).<\/p>\n\n\n\n

The company is in the business of real estate development, and has four principal business segments: retail leasing, office leasing, hospitality, and industrial leasing.<\/p>\n\n\n\n

Since the start of its operations in 2010, DoubleDragon has successfully expanded and diversified its asset portfolio. Its investment property portfolio grew to over 1.3 million square meters (sqm) as of end-March 2024.<\/p>\n\n\n\n

DoubleDragon has provincial community malls located in Luzon, Visayas, and Mindanao, office buildings in Metro Manila, as well as hotels and warehouse complexes nationwide.<\/p>\n\n\n\n

Moreover, the company made significant strides in expanding its business overseas through its hotel brand, Hotel101.<\/p>\n\n\n\n

DoubleDragon has set a new target of increasing its portfolio to 2.4 million sqm of gross floor area (GFA) by 2030, spread across its four core business segments: 30 percent in retail, 15 percent in office, 20 percent in hospitality, and 35 percent in industrial leasing.<\/p>\n\n\n\n

To achieve these targets, DoubleDragon aims to grow its hospitality and industrial leasing segments.<\/p>\n\n\n\n

Moving forward, DoubleDragon expects its debt level to decline as the Company continues to generate positive cash from operations, while its cash reserves build up.<\/p>\n\n\n\n

(News Source: Manila Standard<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329438","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329438"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329438\/revisions"}],"predecessor-version":[{"id":329440,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329438\/revisions\/329440"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}