VILLAR-LED Vista Land & Lifescapes, Inc. said its subsidiary VLL International, Inc. has issued $50 million in senior guaranteed notes as part of the company’s fundraising initiatives.
VLL International’s $50 million new notes issuance forms a single series with the recently completed $300 million notes issuance, Vista Land said in a regulatory filing on Wednesday.
The new notes are guaranteed by Vista Land, Brittany Corp., Camella Homes, Inc., Communities Philippines, Inc., Crown Asia Properties, Inc., and Vista Residences, Inc.
Both the $50-million and $300-million notes issuances were issued under VLL’s $2-billion medium-term note program.
VLL International recently completed the $300-million notes issuance due 2029 priced at 9.375%. It was issued on July 29.
Vista Land grew its first-quarter net income by 11% to P3 billion, while consolidated revenue increased by 11% to P10 billion.
The property developer has earmarked a P30-billion capital expenditure budget for 2024, with 98% allocated for the construction of residential units and land development. The remaining 2% is for land acquisition and the construction of investment properties.
Vista Land has business interests in residential and commercial property development through its units, such as Camella Homes, Communities Philippines, Crown Asia, Brittany, Vista Residences, and Vista Malls.
On Wednesday, Vista Land shares were unchanged at P1.44 per share. — Revin Mikhael D. Ochave
