Listed property developer DoubleDragon Corp. expects to generate over $137 million in sales from its first overseas project, the Hotel 101 in Niseko, Hokkaido in Japan, marking the beginning of an aggressive international strategy.
The 7.25-percent senior guaranteed notes will mature in 2025. These will be issued by DDPC Worldwide, a wholly owned subsidiary of DoubleDragon.
The notes will be consolidated with the company’s existing $130-million 7.25-percent notes due in 2025. The debt papers were previously issued on July 27, 2020 and March 16, 2022. “DoubleDragon believes it is about time that a Filipino hotel brand be exported overseas,” the company noted. Sia previously told the Inquirer he planned to take the hotel business public via an initial public offering in Singapore by 2025.Last Nov. 4, DoubleDragon received the strongest credit rating from Philippine Rating Services Corp.
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