By Marisa Wong
Los Angeles, May 13 – Vista Land & Lifescapes, Inc. said it priced a $170 million reopening of its $200 million 7¼% senior guaranteed notes due 2027 at 103.752 to yield 6½%.
The additional notes will be fungible and form a single series with the existing $200 million of 7¼% notes due 2027 issued in January. This takes the total issuance to $370 million.
The notes will be issued through wholly owned subsidiary VLL International, Inc. under its $2 billion medium-term note program and guaranteed by Vista Land and some of its subsidiaries.
Credit Suisse (Singapore) Ltd., DBS Bank Ltd. and Hongkong and Shanghai Banking Corp. Ltd. are the managers for the Regulation S add-on.
As previously announced, proceeds may be used to refinance existing debt; to purchase, develop, construct or improve assets, property or equipment; or for general corporate purposes.
Vista Land is a Mandaluyong City, Philippines-based homebuilder.
| Issuer: | VLL International, Inc.
|
| Guarantor: | Vista Land & Lifescapes, Inc.
|
| Issue: | Senior guaranteed notes, add-on
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| Amount: | $170 million
|
| Maturity: | 2027
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| Managers: | Credit Suisse (Singapore) Ltd., DBS Bank Ltd. and Hongkong and Shanghai Banking Corp. Ltd.
|
| Coupon: | 7¼%
|
| Price: | 103.752
|
| Yield: | 6½%
|
| Distribution: | Regulation S
|
| Total issuance: | $370 million
|
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