Vista Land to raise funds via wholly-owned unit

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Villar-led Vista Land and Lifescapes Inc., is looking at offering US dollar-denominated notes through its wholly owned subsidiary, VLL International Inc. (VLLI), the company said on Wednesday.

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In a disclosure to the Philippine Stock Exchange, the company said it is “considering” the offering pursuant to VLLI’s Medium-Term Note Program and under such terms and conditions as the Management of VLLI and Vista Land may determine.

The notes will be “subject to favorable market conditions.” No amount has yet been set.
In June 2015, Vista Land announced that its board has approved the Medium-Term Note Program by VLLI, which will allow the subsidiary to issue notes from time to time.

The notes will be guaranteed by Vista Land, together with its subsidiaries Brittany Corp., Crown Asia Properties Inc., Camella Homes Inc., Communities Philippines Inc., and Vista Residences Inc.

“The proceeds from the New Notes will be used for working capital, investment, and/or general corporate purposes,” Vista Land said.

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