Vista Land & Lifescapes Inc. (VLL), one of the country’s leading integrated property developers, said it secured financing through shareholder advances to settle its P10-billion retail bonds.
VLL said in a disclosure to the stock exchange it arranged the necessary funding ahead of the maturity date to ensure full payment of the obligation.
The bonds, which were originally issued on Dec. 18, 2019, matured on June 18, 2025.
“Please be advised that Vista Land & Lifescapes, Inc. has obtained financing, in the form of shareholder advances, to pay the P10-billion retail bonds issued by the company on Dec. 18, 2019 and which will be maturing on June 18, 2025,” the company said.
The move is seen as part of VLL’s ongoing efforts to maintain financial stability and investor confidence amid current economic environment.
Vista Land raised $150 million from loan agreement signed with Sumitomo Mitsui Banking Corp. Singapore Branch and Sumitomo Mitsui Banking Corp. in March 2025.
The loan facility is guaranteed by Vista Land and its subsidiaries Brittany Corp., Crown Asia Properties Inc., Camella Homes Inc., Communities Philippines Inc., Vistamalls Inc. and Vista Residences Inc.
Vista Land in July last year also raised $300 million through the issuance of US-denominated unsecured fixed rate notes.
The notes were issued by Vista Land’s wholly-owned subsidiary VLL International Inc. under its $2-billion medium term note program.
The notes were listed on the Singapore Exchange Securities Trading Ltd. The notes due 2029 were priced at 9.375 percent per annum.
It also raised P3 billion from the issuance of preferred shares in October.
Vista Land earned P3.4 billion in net income in the first quarter of the year, up 5 percent from the same period last year on aggressive residential launches. Revenues went up 5 percent to P5.85 billion, while reservation sales grew 5 percent to P5.56 billion.
