Vista Land & Lifescapes Inc. said Tuesday it set the interest rate for its Philippine peso-denominated fixed-rate bond at 7.5426 percent due December 2026 series F and 7.6886 percent for the bond due December 2028 series G.
The isted property development company of billionaire Manuel Villar on Monday secured clearance from the Securities and Exchange Commission to offer and issue P10 billion worth of fixed-rate bonds, including P4 billion for oversubscription. The bonds represent the first tranche of the P35 billion bond that was shelf registered by Vista Land earlier this year.
Vista Land will offer the bond from Tuesday until 29 November through joint issue managers, lead underwriters, and bookrunners China Bank Capital Corp., SB Capital Investment Corp. and Union Bank of the Philippines.
The bonds are tentatively set to be issued on 6 December.
Vista Land has been rated AAA by Credit Rating and Investors Services Philippines Inc., while the bonds have been rated PRS Aaa by the Philippine Rating Services Corp.—both ratings the highest assigned the credit rating agencies.
