Vista Land to buy back USD450M Notes
June 03, 2015

Vista Land & Lifescapes Inc., the country’s largest homebuilder, is making a tender offer for US0 million worth of guaranteed notes due in 2018 and 2019.

In a disclosure to the Philippine Stock Exchange, the firm said its board has approved the tender offer to be made by wholly owned subsidiary VLL International Inc. (VLLI).

The tender offer will cover the US0 million 7.45 percent guaranteed notes due 2019 and US0 million 6.75 percent guaranteed notes due 2018 issued by VLLI and guaranteed by Vista Land and other subsidiaries.

Vista Land said it has appointed The Hongkong and Shanghai Banking Corporation Ltd. and DBS Bank Ltd. as joint dealer managers and joint lead managers. HSBC was also named sole structuring advisor while DF King Worldwide has been name information and tender agent.

The announcement came as IFR, a Thomson Reuters unit, reported that Vista Land has launched the tender offer with a fixed price of 102.5 percent of face value for its 0 million worth of notes due in 2018, and 104.75 percent for 0 million notes due in 2019.

The offer will close on June 10, IFR said, citing its market sources. A Vista Land spokesman declined to give further details about the offer.

Meanwhile, Vista Land said its board has also approved the establishment by VLLI of a Medium Term Note Program pursuant to which VLLI may from time to time issue notes in such amount, with interest rate and under such other terms and conditions as the management of the company may subsequently approve or ratify.

Last September, Vista Land raised an additional 5 million with the reopening of its 7.45 percent guaranteed notes due 2019 to increase the total size to 0 million.

The firm said the issuance was through wholly owned subsidiary VLL International Inc. pursuant to a subscription agreement with DBS Bank Ltd.

DBS Bank Ltd., the sole global coordinator and sole lead manager of the issuance, distributed approximately 91 percent of the additional notes outside of the Philippines to a broad range of international investors after receiving over US0 million in demand.

Vista Land, through VLLI, had already raised 5 million last April from the notes issue which is guaranteed by the Vista Land, Brittany Corporation, Camella Homes, Inc., Crown Asia Properties, Inc., Communities Philippines, Inc. and Vista Residences, Inc.

VLLI issued the additional notes at an issue price of 102.0 percent of their principal amount plus accrued interest from April 29, 2014, the issue date of the original notes, to the Settlement Date, representing a yield to maturity of 6.935 percent.

Vista Land said the exercise achieved the Vista Land’s objectives of reducing interest expense, further diversifying its funding sources and increasing funding from offshore investors.

http://www.mb.com.ph/vista-land-to-buy-back-450m-notes/


New Vista Land delivers another banner year for 2015; completes acquisition of Starmalls
March 17, 2016
Vista Land & Lifescapes, Inc., one of the country’s leading integrated property developers, released its full year 2015 results, posting a net income growth of 14% to P7.2 billion, including Starmalls’ net income for the year, which became a subsidiar
Read More >>

Vista Land’s H1 net profit up 10% to P3.1B
August 13, 2015
VILLAR-led property developer Vista Land & Lifescapes Inc. (VLL) grew first-semester net profit by 10 percent year-on-year to P3.1 billion as its residential development business continued to expand at a double-digit pace.
Read More >>

Vista Land H1 profit up 10% to P3.1B
August 13, 2015
Vista Land & Lifescapes, Inc., the country’s largest homebuilder, reported a 10 percent hike in net income to P3.1 billion for the first semester of 2015 on strong demand for housing.
Read More >>

Vista Land eyes early debt buyback
June 02, 2015
A UNIT of Vista Land & Lifescapes, Inc. seeks to buy back debt worth a combined 0 million ahead of maturity, the listed homebuilder told the Philippine Stock Exchange yesterday.
Read More >>

Vista Land profit up 10.3% to P1.6B in Q1
May 16, 2015
Villar-led property developer Vista Land and Lifescapes Inc. is spending P25.1 billion this year for new expansion projects in a bid to sustain double-digit revenue and profit growth until yearend.
Read More >>

| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | next
Home About Vista Land News Investor Relations Contact Us Privacy Policy

Vista Land & Lifescapes, Inc. Upper Ground Floor, Worldwide Corporate Center, Shaw Boulevard, Mandaluyong City, 1552 Philippines

Copyright 2011-2017 Vista Land & Lifescapes Inc.