Property

Vista Land to raise $200M from bond market

A wholly-owned unit of Vista Land & Lifescapes Inc. is raising $200 million from its fresh issuance of debt notes.

In a stock exchange filing, bilyonaryo Manny Villar’s Vistaland said VLL International Inc. has mandated Credit Suisse (Singapore) Ltd., DBS Bank Ltd., and The Hongkong and Shanghai Banking Corp. Ltd., as managers, for the sale senior guaranteed notes due 2027.

VLL reopened its 7.25% senior notes, which formed part of its $2 billion medium term note programme.

BDO Capital & Investment Corp. and China Bank Capital Corp. are the domestic lead managers for the issue.

Vistaland,,the country’s biggest homebuilder, plans to use proceeds from the issue to refinance existing notes due 2022.

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