VLL issues P500 million corporate notes

Vista Land & Lifescapes, Inc. (VLL) has secured corporate notes amounting to P500 million to partially finance this year’s capital expenditures.
In a disclosure to the stock exchange on Friday, July 27, the listed property developer said the corporate notes are due 2028 with a fixed interest rate of 7.4985% per annum.
The corporate notes were issued to Eastwest Banking Corp., as per a corporate notes facility agreement the parties signed earlier this month. China Banking Corp., China Bank Savings, Inc., and Security Bank Corp were the note holders, while China Bank Capital Corp and SB Capital Investment Corp were tapped as joint lead underwriters. — Arra B. Francia