Vista Land sets interest rates for retail bond offering
November 29, 2019

VISTA LAND & Lifescapes, Inc. (VLL) has set the interest rates for the fixed-rate retail bonds worth up to P10 billion that it is set to issue next month.

In a disclosure to the stock exchange, the Villar-led property developer said the interest rate for its fixed-rate retail bond is pegged at 5.6992% per annum. The bonds have a tenor of five years and six months, due June 2025.

The bonds will have a base size of P5 billion with an oversubscription option of up to P5 billion.

The base amount of P5 billion will be taken from the company’s remaining shelf registration approved by the Securities and Exchange Commission (SEC) on July 18, 2017. Any oversubscription of up to P5 billion will be issued from the P30-billion new shelf registration.

VLL said the bonds will be offered through the joint issue managers, joint lead underwriters and joint bookrunners — China Bank Capital Corp., PNB Capital and Investment Corp. and SB Capital Investment Corp. from Friday (Nov. 29) to Dec. 10.

The bonds are expected to be issued on Dec. 18.

Credit Rating and Investors Services Philippines, Inc. has given VLL its top credit rating of AAA. VLL’s retail bonds also received PRS Aaa rating from the Philippine Rating Services Corporation (PhilRatings).

In a statement issued last week, PhilRatings said it considered three factors in giving VLL the highest credit rating: the company’s diversified portfolio, its improving profitability and the favorable real estate industry outlook.

The listed firm, which is known for residential brands such as Camella and Camella Condominium (COHO), has been expanding its mass market mall portfolio.

PhilRatings cited VLL’s acquisition of Starmalls, Inc. in 2015, which it said helped diversify the company’s portfolio.

“VLL has built over 400,000 homes, 31 malls, 52 commercial centers and seven office buildings. As of September 30, 2019, the company’s projects were distributed in 147 cities and municipalities in 49 provinces throughout the Philippines,” PhilRatings said.

PhilRatings also took note of the 11.9% compound annual growth rate of VLL’s consolidated revenues since 2014. It said the company was able to maintain strong margins as its average gross profit margin stood at 59.8% over the past five years.

In the first nine months of 2019, VLL’s attributable net income increased 12% to P8.83 billion, as its consolidated revenues grew 9% to P34.36 billion.

The company also said it plans to raise up to P40 billion from the bond market to fund its residential and commercial projects. — CRAG

https://www.bworldonline.com/vista-land-sets-interest-rates-for-retail-bond-offering/


Vista Land raises US200M from note issue
July 14, 2020
Vista Land & Lifescapes, Inc., one of the country’s largest integrated developers and the biggest homebuilder, has successfully raised US0 million from the issuance of 7.25 percent Senior Guaranteed Notes Due 2027.
Read More >>

Vista Land raises P10B from bond offer
December 16, 2019
Vista Land and Lifescapes, one of the country’s leading property developers and the biggest homebuilder, has raised P10 billion from its recent bond offering.
Read More >>

Vista Land bond issue secures top credit rating
November 19, 2019
VILLAR-LED Vista Land & Lifescapes, Inc.’s (VLL) planned P10-billion bond issuance received the top credit rating from a local debt watcher.
Read More >>

Vista Land, Mitsubishi Estate team up on Taft condo project
November 19, 2019
Villar family-led Vista Land & Lifescapes Inc. (VLL) has teamed up with Japanese real estate developer Mitsubishi Estate Co. Ltd. to develop a high-rise residential condominium along Taft Avenue in Manila.
Read More >>

Vista Land Q3 profit jumps 13%
November 11, 2019
VISTA LAND & Lifescapes, Inc. expanded its earnings by 13% in the third quarter, as its real estate sales continued to grow.
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 | 30 | 31 | 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.