Vista Land & Lifescapes Inc., the property development arm of the Villar Group, said Tuesday its affiliate, VLL International Inc., has completed the issuance of USD300 million senior guaranteed notes due 2029. The notes carry a coupon of 9.375 percent.
The senior notes were issued under VLL International’s USD2 billion medium term note program, and are guaranteed by Vista Land and other its subsidiaries namely, Brittany Corporation, Camella Homes, Inc., Communities Philippines, Inc., Crown Asia Properties, Inc., Vista Residences, Inc., and Vistamalls, Inc.
Proceeds from the senior notes issue will be used for refinancing, working capital, investment and other corporate purposes.
VLL International has mandated DBS Bank Ltd. and HSBC as joint global coordinators, joint bookrunners, and joint lead management of the senior notes issuance.
