PH’s Vista Land to repurchase $450m notes

Visual from the company website

Philippine homebuilder firm Vista Land & Lifescapes Inc disclosed plans to repurchase $450 million worth of guaranteed notes, due within the next two years.

Vista Land informed the stock exchange on Tuesday that its board approved the tender offer made by the company’s wholly-owned subsidiary VLL International Inc (VLLI), to the holders of outstanding $100 million 6.75 per cent guaranteed notes, and $350 million 7.45 per cent guaranteed notes, both due in 2018 and 2019, respectively.

“For this purpose, the Board approved the appointment of The Hongkong and Shanghai Banking Corporation Ltd and DBS Bank Ltd as joint dealer managers and joint lead managers,” Vista Land said in its statement.

Vista Land added the Hongkong and Shanghai Banking Corporation Ltd was also named as the sole structuring advisor, while DF King Worldwide has been appointed as the information and tender agent.

The tender offer, which began on Tuesday, will end on June 10.

The homebuilder recently reported of posting a 10 per cent growth in revenues for the first quarter of 2015 to P6.06 billion from P5.49 billion in the same period last year. Net Income rose by 10 per cent to P1.64 billion during the quarter from P1.49 billion in the comparable period a year ago.

In 2014, Vista Land gained a net income growth of 13 per cent to P5.7 billion, which company claimed to be the highest achieved so far in its history.

Vista Land’s trading price remained at P7.17 since yesterday.

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PH dealbook: China Bank, San Miguel Corp

PH Dealbook: Splash to buy-back $2.26m shares, ICTSI sells 60% shares in NICTI

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.