Manila, Philippines - Vista Land &
Lifescapes Inc., the holding firm for most of the real estate assets of the
family of Sen. Manuel Villar, plans to raise up to P2.502 billion through the issuance
of Homebuilder bonds.
In a disclosure to the Philippine
Stock Exchange, Vista Land said the company’s board has authorized its
management to firm up the final issue size, interest rate and other relevant
terms and conditions of the bonds.
The board likewise authorized the
registration of the bonds under the Securities Regulation Code and the
implementation of all necessary corporate and other actions to proceed with the
offering.
Vista Land is embarking on a major
expansion this year with plans to roll out 32 residential subdivision projects
valued at P32 billion. The move is aimed at further strengthening its position
as the country’s leading house-and-lot package developer.
Last year, Vista Land launched 23
projects worth a total P21 billion, 16 of which are horizontal projects. It
also added 8 new areas for the year.
For this year, Vista Land will open 20
expansion projects from existing areas around the country. It will also launch
horizontal developments in 12 new areas.
Vista Land’s horizontal business is
marketed under the Brittany, Crown Asia, Camella and Lessandra brands. It has
also entered the vertical side of the property business under Vista Residences,
which uses the Camella Condo Homes brand.
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