Vista Land secures P13.6-B notes

Vista Land & Lifescapes Inc., the country’s largest homebuilder, has secured a five-year corporate notes facility amounting to P13.61 billion, arranged by Chinabank Capital Corp.

- BY JAMES A. LOYOLA

In a disclosure to the Philippine Stock Exchange (PSE), the firm said it made an initial drawdown of up to P7.22 billion at a fixed rate of 7.8947 percent per annum from the notes facility.

“The proceeds of the corporate notes facility will be used to refinance existing or maturing obligations of the group and for other general corporate purposes,” Vista Land Chief Finance Officer (CFO) and Investor Relations (IR) Head Brian N. Edang said.