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Vista Land mulls P2.5-B bonds

(The Philippine Star) Updated July 27, 2012 12:00 AM

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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