Vista Land plans P10-billion bond offering

Vista Land & Lifescapes Inc., the real estate arm of tycoon Manuel Villar, on Wednesday announced plans to return to the bond market with the planned registration of three-year bond program worth P35 billion.

VLL said in a disclosure to the stock exchange the initial tranche from the program would involve P10 billion worth of peso-denominated fixed rate bonds, consisting of P6 billion base offer and P4 billion to cover oversubscription.

It will file and register the bonds with the Securities and Exchange Commission.

The property firm hired China Bank Capital Corp., SB Capital Investment Corp. and Union Bank of the Philippines as joint lead underwriters and bookrunners for the transaction.