VISTA LAND LISTS PHP10 BILLION FIXED RATE BONDS ON PDExPosted on: December 18, 2019
18 December 2019, Makati, Philippines — Vista Land and Lifescapes, Inc. (VLL) lists PHP 10 Billion Series E Fixed Rate Bonds Due 2025 on the Philippine Dealing & Exchange Corp. (PDEx). The bonds have a 5.5 year-tenor, with quarterly coupons priced at 5.6992% per annum, and is oversubscribed twice the originally planned PHP 5 billion issue size.
“This is the largest issuance by far of Vista Land and a positive statement of support from its investors, and each of whom VLL will reciprocate with the gift of cash liquidity by way of coupon payments during the next five holiday seasons. This event is more memorable as it is listing Number 40 for 2019, a milestone for annual fixed income primary market activity that surpasses the previous high of 29 listings, and also sets the volume record at today’s level of PHP 375.61 Billion in one year,” said PDEx President & Chief Operating Officer (COO) Antonino A. Nakpil.
While on VLL’s part, Chairman Manuel Paolo A. Villar remarked: “It is indeed an honor and a privilege to be here for the listing of our P10 billion fixed rate bonds due 2025. It was in July 2017 when we had our first shelf registration of fixed rate bonds in the aggregate principal amount of P20 billion, and today, we are issuing the final tranche worth P5 billion. Last November, we set up a new shelf registration for P30 billion to complete our P10 billion offer this 2019.”
“The continued progress of the capital market is of critical importance to our country and of course to companies like Vista Land, and so we laud the efforts being exerted by the PDS Group leadership to constantly develop the market environment to become more attractive and investor-friendly,” he added.