Vista Land & Lifescapes, Inc. debuts on the local debt marketPosted on: May 9, 2014
Makati, Philippines, 09 May 2014, Friday - Villar-led company, Vista Land & Lifescapes, Inc. (VLL) launched its presence in the local debt market, listing its PhP 5.0 Billion Fixed Rate Bonds due 2019 and 2021 in the Philippine Dealing & Exchange Corp. (PDEx) platform.
Former Senator Manny Villar, the VLL Chairman, led the ringing of the bell to trumpet the start of trading of the VLL Bonds due 2019 and 2021 on PDEx. The event was graced by the Honorable Securities & Exchange Commission Chairperson Teresita J. Herbosa and VLL President & CEO Manuel Paolo A. Villar who both shared a few words.
SEC Chairperson Herbosa said, “Vista Land is highly regarded and well-known in the housing industry. We at the SEC encourage and support this kind of offerings. These issuances only prove that our economy remains strong as ever, Philippine capital market is still gaining attraction, and most importantly investor trust and confidence continues to be high.”
“There is a very noble purpose this company (Vista Land & Lifescapes, Inc.) has so we take it as our responsibility not only to grow and provide returns to our investors but also provide quality products and expand our coverage to the millions of Filipinos who want a home. We thank PDS for helping us do that because it is a very important part of our corporate purpose. We did an IPO in 2007, issued dollar bonds in international market, and in a way we’re coming home to the Philippines again for retail bonds so we are so excited and so much in appreciation of all the partners that made this possible,” VLL President & CEO Manuel Paolo A. Villar remarked.
Vista Land’s PhP 5.0 billion Bonds due 2019 and 2021 join the current roster of corporate issues listed in PDEx, pushing the total size of 2014 new listings to P94.80 billion – about 14% higher than the total new bond listings for the whole of 2013. The robust activity in the issuance of corporate bonds has far been met with equal demand from the investors and the number of local bond issues is expected to continue to increase in the coming months.
“We at the PDS Group believe that every listing ceremony is a revalidation of local Investors’ continuing demand for Philippine Peso investments instruments and our Market Participants’ collective commitment to support domestic corporations access to long term capital,” PDEx Chairman & CEO Cesar B. Crisol said.
Mr. Crisol also added, “We hope that Vista Land continues to strengthen its ties with its Investors and the market community and stakeholders, so that like a number of our Issuers we may see you return to the market for your future capital requirements.”
Representatives from the Issue Participants were also present, including BDO Capital & Investment Corporation Senior Vice President Jerome C. Guevarra, China Banking Corporation First Vice President Virgilio O. Chua, and BDO Unibank, Inc. Executive Vice President Edmundo S. Soriano.
Liquidity and price discovery for the VLL Bonds in the secondary market will be supported by BDO Unibank, Inc. as Market Maker and Metropolitan Bank & Trust Company, Multinational Investment Bancorporation, Philippine Commercial Capital Inc., and Rizal Commercial Banking Corporation as Broker Specialists. #