The Market Monitor Minding the Nation's Business
Philippine Rating Services (PhilRatings) has assigned its highest rating of PRS Aaa to the planned bond issuance of up to P10.9 billion by DoubleDragon Corp.
In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, DoubleDragon said the bonds will carry a fixed interest rate of 7.7 percent with tenors of 3.5 years and 5.5 years. The offering is targeted for September 2025.
The company said the issuance—dubbed the “DD double-seven retail bond”—is expected to benefit from the anticipated policy rate cut by the Bangko Sentral ng Pilipinas (BSP) during its meeting on Aug. 28.
DoubleDragon, an investment management firm listed on the PSE, said the planned issuance underscores confidence in the robustness of the Philippine capital market.