VLL signs corporate notes facility worth P7.7 billion

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Vista Land & Lifescapes, Inc. (VLL) has secured corporate note facilities totaling P7.7 billion to fund its capital expenditures this year.

In a disclosure to the stock exchange on Friday, the Villar-led firm said it signed a corporate note facility consisting of seven-year corporate notes worth P1.7 billion with a cuopon rate of 7.4913% per year, and 10-year corporate notes worth P6 billion with a fixed interest of 7.7083% per annum.

With this, VLL entered into a corporate notes facility agreement with China Banking Corp., China Bank Savings, Inc., and Security Bank Corp., which will act as note holders. — Arra B. Francia