Manny Villar’s Vista Land secures P12 billion notes facility to refinance debt

Vista Land and Lifescapes Inc. (VLL), the property holding firm of ultra bilyonaryo Manny Villar, has obtained a three-year corporate note facility amounting up to P12 billion which will be used to refinance obligations.

In a regulatory filing, VLL said an initial drawdown of P8.6 billion at a fixed rate of 7.9314 percent per annum has already been made from the corporate note facility.

Proceeds from the corporate notes facility will be used to refinance existing or maturing obligations of the group and for other general corporate purposes.

BDO Capital & Investment and China Bank Capital are the lead arrangers and bookrunners while Union Bank of the Philippines is joint lead arranger.

VLL subsidiaries i Brittany Crown Asia Properties, Camella Homes, Communities Philippines, Vista Residences, and STR, meanwhile, serve as b guarantors.