Vista Land readies P10B bond offer
Villar-led Vista Land & Lifescapes Inc. plans to offer to the public up to P10 billion worth of retail bonds.
In a stock exchange filing, Vista Land said its board approved the issuance of fixed-rate retail bonds with a base offer of P5 billion and an oversubscription option of up to P5 billion.
The bonds will come from the remaining P15 billion bonds registered under the Securities and Exchange Commission’s shelf registration facility.
Vista Land has yet to firm up the terms of the offer including the interest rate.
China Bank Capital Corp. has been tapped as issue manager for the offering.
Apart from this, Vista Land approved the extension of its share buyback program up to Nov. 5, 2020.
The company has authorized management to determine the timing and volume of share purchases.