Sign in Subscribe
Banking industry

Vista Land & Lifescapes, Inc. Makes Successful Entry into Offshore Debt Capital Markets with $100 Million Bond Issue

Strategic Insights

— 1 min read

Vista Land & Lifescapes, Inc., a leading property development firm in the Philippines, has made a successful debut in the offshore debt capital markets with a $100 million five-year unsecured bond issue. The company priced the bond on Friday, carrying a coupon of 8.25 percent a year, and was met with a positive response from the investor community. This move is part of Vista Land's overall financing strategy to diversify its sources of funding and expand its business operations.

Key Takeaways:

  • Vista Land & Lifescapes, Inc. successfully issued a $100 million five-year unsecured bond in the offshore debt capital markets, priced at a 8.25 percent coupon rate.
  • The bond issuance was met with a positive response from the investor community, with Morgan Stanley and UBS AG acting as joint lead managers and bookrunners.
  • Vista Land is amending its articles of incorporation to reclassify one billion common shares into 10 billion preferred shares, allowing for additional foreign and domestic investment.
  • The company has announced expansion plans in various market segments, including vertical, low-rise, and mid-rise properties, with a projected total value of $12.5 billion by next year.
  • Vista Land has also entered the commercial property development business through its existing master-planned communities, signaling its entry into the leasing business.

Statistics:

  • The bond issue carried a coupon rate of 8.25 percent per year.
  • The bond was priced at $100 million and has a five-year maturity period.
  • Vista Land has a geographic presence around the Philippines and caters to practically all income segments of the real estate market through its four brands: Brittany, Crown Asia, Camella, and Vista Residences.
  • The company's shares have appreciated sharply over the last few months.
  • Vista Land has declared a cash dividend of $0.054 per share with a total value of $459.88 million, equivalent to 20 percent of the company's consolidated net income as of December 31, 2009.

Sources:

  • "Vista Land & Lifescapes, Inc." Philippine Stock Exchange.
  • "Vista Land Issues $100M Bond, Eyes Further Listings." BusinessWorld.
  • "Vista Land & Lifescapes, Inc." Company website.
  • Credit Lyonnais Securities Asia (CLSA), "Vista Land & Lifescapes, Inc." Report.
  • Philippine Stock Exchange.

Read more