Vista Land & Lifescapes Inc. said it is setting the coupon rate for its P10 billion bond sale at 7.5426 percent for the batch maturing in three years, Series F due December 2026, and at 7.6886 percent for the five-year tenor Series G due in December 2028.
The company will initially offer P6 billion, with an oversubscription of up to P4 billion, which the realtor said represents the first tranche of the P35 billion shelf-registered borrowing program it filed early this year.
The Villar-controlled realtor said it intends to primarily use the net proceeds to refinance maturing obligations and for general corporate purposes.
The bonds will be on sale between November 21 and 29 and will be issued by December 6.
The bonds have been rated PRS Aaa by the Philippine Rating Services Corp., the highest rating the agency gives.
Vista Land tapped China Bank Capital Corp., SB Capital Investment Corp. and Union Bank of the Philippines as joint lead underwriters and bookrunners for the offer, with China Banking Corp. Trust and Asset Management Group as the trustees.
