VISTA Land & Lifescapes, Inc. has priced its fixed-rate retail bonds at 8% for the five-year instruments due in 2023, and at 8.25% for the seven-year bonds due in 2025.
The total bond principal is P5 billion with an oversubscription option of up P5 billion. They will be issued out of the company’s P20 billion shelf registration, which the Securities and Exchange Commission made effective on July 18, 2018.
Vista Land said the bonds are to be offered through China Bank Capital Corp., the issue manager, underwriter, and bookrunner. The offering schedule is from Dec. 10, 2018 to Dec. 14, 2018, after the receipt of the permit to sell from the securities regulator.
The company said the bonds are set to be issued on Dec. 21, 2018.
It said Credit Rating and Investors Services Philippines, Inc. rated the bonds AAA, which is the highest rating assigned by the credit rating firm.
Vista Land declined 1.15% to close at P5.14. — Victor V. Saulon