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Philippine homebuilder Vista Land makes massive saving
Philippine homebuilder Vista Land & Lifescapes priced a highly successful tap on Wednesday and shaved more than 60bp off its funding costs. The company had recently posted strong first half results and its bonds were trading well in secondary, so sole lead DBS advised them to increase the original deal.
Vista Land was the first Philippine corporate to tap the international market this year. In April it issued a $225m 2019 bond with a coupon of 7.45%. The bond priced at 99.284 to yield 7.625%.
“We’ve been talking to the company for a while but things ...Already a subscriber? Login
