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Manila Bulletin devider Business devider The Stock Market devider Villar's Vista Land continues funding push with new $150-million loan

Villar's Vista Land continues funding push with new $150-million loan

Published May 5, 2025 12:10 pm

Villar-led Vista Land & Lifescapes, Inc., one of the Philippines’ leading integrated property developers and the country’s largest homebuilder, has raised $150 million from a syndicated term loan facility arranged by Sumitomo Mitsui Banking Corporation.

In a disclosure to the Philippine Stock Exchange, the firm said its wholly-owned subsidiary VLL International, Inc. (VLLI) has obtained the $150 million facility at a rate of 6.40509 percent per annum.

The obligations of VLLI under the loan facility are guaranteed by the Company and its subsidiaries namely Brittany Corporation, Crown Asia Properties, Inc., Camella Homes, Inc., Communities Philippines, Inc., Vistamalls, Inc., and Vista Residences, Inc.

The proceeds of the term loan facility will be used for financing, refinancing or reimbursing (directly or indirectly) working capital and general corporate purposes of the VLL Group.

For this facility, VLLI has entered into a Syndicated Term Loan Facility with Sumitomo Mitsui Banking Corporation Singapore Branch as Mandated Lead Arranger, Underwriter and Bookrunner, and Sumitomo Mitsui Banking Corporation as Facility Agent.

In August 2024, VLLI topped its senior guaranteed notes with an issuance of $50 million which were consolidated and form a single series with the $300 million 9.375 percent senior guaranteed notes due 2029 issued on July 29, 2024 and take the total issuance size of the series to $350 million.

The Notes were also issued under VLLI’s $2 billion Medium Term Note Programme, and are guaranteed by the same firms under the VLL Group.

Vista Land first raised $300 million through the notes issuance by VLLI Inc. The notes, which are listed in Singapore (SGX-ST), were settled on July 29, 2024, and have a maturity date of July 29, 2029.

The net proceeds were used by Vista Land for refinancing, working capital, investment and other general corporate purposes, said Vista Land Chief Finance Officer Brian Edang.

Vista Land has tapped DBS Bank Ltd. and HSBC as joint global coordinators, bookrunners, and lead managers. KIS Asia is also a joint bookrunner and lead manager, while Union Bank of the Philippines is the domestic lead manager.

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Vista Land & Lifescapes Inc. Manuel B. Villar Jr.
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