By Marisa Wong
Morgantown, W.Va., July 27 – Vista Land & Lifescapes, Inc. said it issued PHP 500 million of additional notes due 2028 with a fixed interest rate of 7.4985%.
As announced on July 13, the company had issued PHP 1.7 billion of seven-year notes with a fixed coupon of 7.4913% and PHP 6 billion of 10-year notes with a fixed coupon of 7.7803%.
China Bank Capital Corp. and SB Capital Investment Corp. acted as joint lead underwriters for the additional notes.
Subsidiaries Brittany Corp., Crown Asia Properties, Inc., Camella Homes, Inc., Communities Philippines, Inc., Vista Residences, Inc. and Starmalls, Inc. are the guarantors for the new notes.
Proceeds from the latest notes will be used to fund the company’s 2018 capital expenditures for commercial property projects and to fund other general corporate purposes.
Vista Land is a Mandaluyong City, Philippines-based homebuilder.
| Issuer: | Vista Land & Lifescapes, Inc.
|
| Guarantors: | Brittany Corp., Crown Asia Properties, Inc., Camella Homes, Inc., Communities Philippines, Inc., Vista Residences, Inc. and Starmalls, Inc.
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| Issue: | Fixed-rate notes
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| Amount: | PHP 500 million
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| Maturity: | 2028
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| Underwriters: | China Bank Capital Corp. (issue manager and bookrunner) and SB Capital Investment Corp.
|
| Coupon: | 7.4985%
|
| Announcement date: | July 27
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