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Philippines' Vista Land accepts tenders for $103.77 million 8¼% notes
By Marisa Wong
Madison, Wis., April 25 - Vista Land and Lifescapes, Inc. said that holders of its 8¼% guaranteed notes due 2015 had tendered $103,765,000 of the notes as of noon ET on April 22, the expiration of its previously announced tender offer.
Vista Land accepted the tendered notes on April 24. The company said it expects to settle the offer on April 30.
After settlement, $46,575,000 principal amount of the notes will remain outstanding.
The notes are guaranteed by Brittany Corp., Camella Homes, Inc., Crown Asia Properties, Inc., Communities Philippines, Inc. and Vista Residences, Inc.
The offer is part of the issuer's management of its capital structure, according to prior press release.
The joint dealer managers are DBS Bank Ltd. (attn.: liability management, +65 6682 7256 or liabilitymgmt@dbs.com) and Hongkong and Shanghai Banking Corp. Ltd. (attn.: liability management, +852 2822 4100 or +44 207 992 6237, fax: +852 3409 1482 or liability.management@hsbcib.com).
The information and tender agent is D.F. King Worldwide (attn.: Damian Watkin and Katerina Papamichael, vistaland@king-worldwide.com, +44 20 7920 9700 or 212 269 5550).
The homebuilder is based in Mandaluyong City, Philippines.
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