{"id":330105,"date":"2024-10-29T01:16:43","date_gmt":"2024-10-28T17:16:43","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330105"},"modified":"2024-10-29T01:20:21","modified_gmt":"2024-10-28T17:20:21","slug":"trade-the-news-dd-gets-triple-a-rating-for-first-tranche-of-p30-b-bond-program","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-dd-gets-triple-a-rating-for-first-tranche-of-p30-b-bond-program\/","title":{"rendered":"Trade the News: DD gets Triple-A rating for first tranche of P30-B bond program"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE 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

DoubleDragon Corp. (DD) got the highest credit rating for a P10-billion planned bond issuance in November as the company aims to expand its investor base.<\/p>\n\n\n\n

It secured the \u201cPRS Aaa\u201d with a stable outlook for the bond offer with a base amount of P5 billion and an oversubscription option of as much as P5 billion, it said in a stock exchange filing on Thursday.<\/p>\n\n\n\n

The P10-billion bond sale is the first tranche of DoubleDragon\u2019s P30-billion multiyear retail bond issuance. The tenor is at 5.5 years, while the interest rate is at 8%, with a P50,000 minimum denomination.<\/p>\n\n\n\n

The \u201cPRS Aaa\u201d rating is given to debt with marginal credit risk, while a stable outlook means that the rating is likely to remain unchanged in the next 12 months.<\/p>\n\n\n\n

DoubleDragon\u2019s bond issuances for 2025 and 2026 will be priced at about 7% and 6% per annum, respectively.<\/p>\n\n\n\n

\u201cThe pipeline capital-raising issuances at this stage of DoubleDragon\u2019s growth are intended to further boost its financial position by increasing its cash position,\u201d the company said.<\/p>\n\n\n\n

Meanwhile, DoubleDragon Chairman Edgar \u201cInjap\u201d J. Sia II said he expects the bond sale to attract retail investors.<\/p>\n\n\n\n

\u201cSince the cycle of low interest rates has begun, this retail bond offering could be the very last time in many years at 8% per annum,\u201d he said.<\/p>\n\n\n\n

This offer would also accommodate retail investors who failed to participate in the recent DoubleDragon retail bond sale, he added.<\/p>\n\n\n\n

In July, the company finished a P10-billion retail bond offer that was fully subscribed five days before schedule. It was the initial segment of DoubleDragon\u2019s shelf-registered debt program.<\/p>\n\n\n\n

(News Source: Business World<\/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-330105","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\/330105","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=330105"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330105\/revisions"}],"predecessor-version":[{"id":330111,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330105\/revisions\/330111"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}