By Marisa Wong
Los Angeles, Dec. 29 – Vista Land & Lifescapes, Inc. has obtained a three-year corporate note facility of up to PHP 12 billion, according to a 17-C filing with the Philippine Securities and Exchange Commission. The company made an initial drawdown of PHP 8.6 billion at a fixed rate of 7.9314% per annum.
BDO Capital & Investment Corp. and China Bank Capital Corp. are the lead arrangers and bookrunners, with Union Bank of the Philippines as joint lead arranger.
China Banking Corp. – Trust and Asset Management Group is facility agent.
Vista Land’s subsidiaries, namely Brittany Corp., Crown Asia Properties, Inc., Camella Homes, Inc., Communities Philippines, Inc., Vista Residences, Inc. and Vistamalls Inc. are subsidiary guarantors.
Proceeds from the notes facility will be used to refinance existing or maturing obligations of the company and for other general corporate purposes.
Vista Land is a Mandaluyong City, Philippines-based homebuilder.
| Issuer: | Vista Land & Lifescapes, Inc.
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| Guarantors: | Brittany Corp., Crown Asia Properties, Inc., Camella Homes, Inc., Communities Philippines, Inc., Vista Residences, Inc. and Vistamalls Inc.
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| Issue: | Corporate notes
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| Amount: | PHP 8.6 billion
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| Maturity: | Three years
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| Bookrunners: | BDO Capital & Investment Corp. and China Bank Capital Corp. (lead arrangers and bookrunners); Union Bank of the Philippines (joint lead arranger)
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| Coupon: | 7.9314%
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| Announcement date: | Dec. 28
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