Vista Land & Lifescapes Inc. said Monday it secured a P13.61-billion five-year credit facility to boost its capital for growth opportunities and debt management.
The property developer led by the Villar family said it made an initial drawdown of P7.22 billion at a fixed interest rate of 7.8947 percent per year.
China Bank Capital served as the lead for the transaction, which represents the largest peso-denominated corporate notes issuance for Vista Land since the start of the pandemic.
China Bank Capital managing-director Juan Paolo Colet said the financing solution supports the company’s strategy of balancing its growth pursuits while managing its balance sheet.
The credit facility follows a series of financial moves by the developer to restructure its obligations. Last week, Vista Land settled P3.5 billion in retail bonds that matured on Dec. 22, 2025.
The company used the proceeds from advances provided by its majority shareholders to settle those bonds, which were originally issued in December 2018.
Vista Land unit VLL International Inc. also obtained a $150-million loan early this year to repay debt and cover operating expenses.
The facility carries an annual interest rate of 6.40509 percent and was signed with Sumitomo Mitsui Banking Corp.
Meanwhile, the company’s mall subsidiary, Vistamalls Inc., also announced that its board approved a cash dividend of P0.0433 per share.
The dividend is payable on Feb. 5, 2026, to stockholders of record as of Jan. 15, 2026.
