Philippines' Vista Land to raise $125 mln through 5-yr notes
MANILA, Sept 4
MANILA, Sept 4 (Reuters) - Philippine property developer Vista Land & Lifescapes Inc said on Thursday it will raise $125 million through a corporate note offering to support capital expenditures.
In a stock exchange filing, Vista Land said its board of directors authorised subsidiary VLL International Inc to issue $125 million notes.
The senior guaranteed notes due 2019 will yield 7.45 percent, and will form a single series to consolidate it with the $225 million debt papers issued by VLL International in April.
Vista Land said VLL International executed a subscription agreement with DBS Bank Ltd as manager for the offer, sale and issuance of the corporate notes.
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(Reporting by Neil Jerome Morales; Editing by Stephen Coates)