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Vista Land & Lifescapes lists 5B-Philippine-peso bonds

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Vista Land & Lifescapes lists 5B-Philippine-peso bonds

Vista Land & Lifescapes listed fixed-rate bonds worth 5 billion Philippine pesos on the Philippine Dealing & Exchange Corp.

As reported earlier in August, the offering was made up of 3 billion pesos in seven-year bonds and 2 billion pesos of 10-year bonds.

The bonds, due 2024 and 2027, carry a respective interest rate of 5.7512% and 6.2255% per annum. Credit Rating and Investors Services Philippines Inc. assigned the bonds an AAA issuer rating, with a stable outlook for the company, according to a filing.

The bonds make up the first tranche of the 20 billion-peso retail bonds under the company's shelf registration, which was approved by the local Securities and Exchange Commission.

As of Aug. 10, US$1 was equivalent to 50.89 Philippine pesos.