Vista Land offered to redeem $100 million 6.75 percent notes due 2018 and $350 million 7.45 percent notes due 2019, to be funded by the issuance of new notes, the firm's investor relations chief Brian Edang told Reuters.
The company, one of the largest homebuilders in the Philippines, also plans to raise around $50 million to pay bonds maturing in September, he added.
Thomson Reuters publication IFR reported that the seven-year Reg S bond offering is being marketed to yield around 7.75 percent.
The amount and terms of the new bonds will be finalized later on Thursday, Edang said.
Vista Land hired DBS and HSBC as global coordinators and bookrunners of the bond offer.
BDO Capital and China Banking Corp. are the joint domestic lead managers for the offering.
source: www.abs-cbnnews.com
