VISTA Land & Lifescapes, Inc. on Wednesday said its subsidiary VLL International, Inc. has topped its senior guaranteed notes with another issuance of $50 million through a private placement.
In a regulatory filing, the company said this is pursuant to VLL International’s $2-billion medium-term note program.
“The new notes, upon issue, will be consolidated and form a single series with the US$370,000,000 7.25% Senior Guaranteed Notes Due 2027, and take the total issuance size of the series to US$420,000,000,” Vista Land said.
Proceeds from the notes issue will be funding existing debt, the purchase, development, construction, or for the improvement of assets, property, or equipment, and general corporate purposes.
VLL International has a subscription agreement with managers DBS Bank Ltd. and HSBC for the offer, sale, and issuance of the notes.
The notes are guaranteed by the company and subsidiaries Brittany Corp., Crown Asia Properties, Inc., Camella Homes, Inc., Communities Philippines, Inc., and Vista Residences, Inc.
On Wednesday, shares of Vista Land at the stock market improved by 2.82% or 10 centavos to close at P3.64 each. — Keren Concepcion G. Valmonte