Vista Land extends maturity profile to the horizon

Philippine property developer extends its maturity profile with a combined tender offering and US dollar bond issue.
South Luzon ex
South Luzon ex

Vista Land & Lifescapes, the Philippine property developer, returned to international bond markets on Thursday with a combined tender offering and dollar-denominated bond issue  

The group's liability management exercise was designed to extend its maturity profile and retire more expensive debt rather than increase its gearing

Vista Land's bond issue comprised a $300 million seven-year transaction with a 2022 maturity that was priced at 7 5% after initially being marketed at 7 75%

Proceeds from the unrated Reg S deal are being used to fund a tender offering for two existing bonds and re-pay the outstanding $50 million principal on a bond that matures in September

The tender offering, which closed one day earlier on...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222