By Paolo Montecillo
MANILA, Philippines—Villar-led Vista Land and Lifescapes Inc. plans another dollar bond sale to raise funds for its expansion to new areas in the country this year.
In a disclosure on Wednesday, the real-estate giant said it would issue additional US dollar notes. This would go on top of the $100 million in debt paper the company sold in September last year.
The new notes will have the same terms as those of the company’s previous offering. They will be consolidated with the previous offering to form a single series.
“The board further authorized the implementation of all necessary corporate and other actions to proceed with the offering and the issuance of the aforementioned notes. It authorized and empowered management to decide on the final issue size,” the company said.
Vista Land’s previous offering fetched a rate of 8.25 percent per year. The notes will mature in 2015.
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