VISTA Land and Lifescapes Inc. is eyeing to tap the dollar market for funding, with unit VLL International Inc. looking to issue five-year bonds out of the group’s $2 billion medium term note program.
The bonds, to be guaranteed by Vista Land and units Brittany Corp., Camella Homes Inc., Communities Philippines Inc., Crown Asia Properties Inc., Vista Residences Inc. and Vistamalls Inc., has an initial price guidance of 9.5 percent that will be settled on July 29.
The bonds will be issued to investors outside the US and likely to be listed at the Singapore Stock Exchange.
The group tapped DBS Bank Ltd. and HSBC (B&D) as joint global coordinators. They will be joined by KIS Asia as joint bookrunners and joint lead managers.
Union Bank of the Philippines will serve as domestic lead manager.
