Manny Villar’s Vista Land issues additional corporate notes

MVB Vista Land

Manny Villar’s property holding firm Vista Land and Lifescapes Inc. (VLL) has issued additional corporate notes amounting to P2.9 billion.

The debt securities came from the P12 billion corporate note facility VLL secured in December last year.

In a regulatory filing, VLL said the additional corporate notes are due December 26, 2025, at a fixed interest of 7.2595 percent per annum.

Proceeds from the additional notes issuance will be used by VLL to refinance existing or maturing obligations, as well as for the other general corporate purposes.

Last December, VLL made an initial drawdown of P8.6 billion at a fixed rate of 7.9314 percent per annum from the corporate note facility.

VLL entered into a corporate notes facility agreement with BDO Capital & Investment and China Bank Capital as lead arrangers and bookrunners and Union Bank of the Philippines as joint lead arranger.

VLL subsidiaries Brittany Crown Asia Properties, Camella Homes, Communities Philippines, Vista Residences, and STR serve as guarantors.

https://bilyonaryo.com/2023/02/03/manny-villars-vista-land-issues-additional-corporate-notes/property/