<article>Philippine-based holding company <a style="color: #000080;" href="http://www.vistaland.com.ph">Vista Land &amp; Lifescapes Inc</a> has raised $125 million in the offshore bond market.</article>

Philippine-based holding company <a style="color: #000080;" href="http://www.vistaland.com.ph">Vista Land &amp; Lifescapes Inc</a> has raised $125 million in the offshore bond market.
The latest development also served as the first capital raise post acquisition of <a style="color: #000080;" href="http://www.starmallsinc.com.ph" target="_blank">Starmalls Inc</a>, a merger move recently made by Vista Land CEO Manny Villar, as he joins the township bandwagon which he prefers to call &#8220;Communicity&#8221;, combining his affordable housing and mall businesses.
The real estate magnate and former senator said with the fund-raising, Vista Land is well positioned to achieve its targets for residential developments and commercial expansion for 2016.
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&#8220;We are pleased with our ability to successfully tap the international bond market despite all the recent market volatility. Our ability to access offshore medium term funds reflects the strong confidence that credit investors have placed in us,&#8221; Villar said.
The $125-million was raised via a re-tap of Vista Land’s existing 7.375 per cent senior unsecured bonds due June 2022, off its medium term note programme. The new funds were raised at a price of 102.000, which represents a yield of 6.979 per cent per annum.
By accessing the international bond market, the company has been able to preserve appetite for future financing requirements in the local peso market.
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The latest funds&#8217; proceeds will be utilised to fund the capex plans of the combined entity.
Vista Land continues to diversify its funding sources while expanding the Communicity model throughout the Philippines. It intends to focus on the development of Communicities, integrated urban developments combining lifestyle retail, prime office space, university town, healthcare, themed residential developments and leisure components.
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Vista Land last November acquired Starmalls, the mall development arm of the Villar family.
Starmalls owns and operates 10 retail malls and two business process outsourcing (BPO) commercial centers, with a combined gross floor area of 509,385 square meters.
Vista Land&#8217;s last trading price decreased by 1.23 per cent or P0.050 to close at P4.00.
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Philippine-based holding company Vista Land & Lifescapes Inc has raised $125 million in the offshore bond market.

Philippines realty firm Vista Land raises $125m in foreign bonds

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Philippines realty firm Vista Land raises $125m in foreign bonds

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