Vista Land readies P30B bond offering
Vista Land & Lifescapes Inc., the property holding company of the family of former senator Manny Villar, has filed with the Securities and Exchange Commission an application for the registration of fixed-rate retail bonds worth up to P30 billion.
The bonds will be issued in tranches over a period of three years with the first tranche amounting to as much as P10 billion.
Vista Land will sell P5 billion out of the existing P20-billion shelf program of the company, while up to P5 billion shall be issued out of the new shelf bonds.
The company earlier secured P14.5 billion from a five-year notes facility, which it plans to use for commercial property projects and other general corporate purposes.
It has earmarked P40 billion for its capital expenditures this year.