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May 2, 2017 @ 12:45

Manny Villar secures P4.85B debt financing for real estate ventures


Vista Land & Landscapes Inc. raised P4.85 billion from the issuance of additional corporate notes to fund its capital expenditures and refinance debt.

The notes due 2026 carry a fixed interest of 6.2255 percent per annum, Vista Land said in a disclosure to the stock exchange.

These notes were issued to Rizal Commercial Banking Corp. and China Banking Corp.

Vista Land is the holding firm for all property holdings of the family of tycoon Manuel Villar. Its subsidiaries include Brittany Corp., Crown Asia Properties, Camella Homes, Communities Philippines, Vista Residences and Starmall.

Last December, the company raised P5.15 billion through a corporate notes offering.

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