Vista Land & Lifescapes Inc. (VLL), one of the Philippines’ largest integrated property developers, announced that its wholly owned offshore subsidiary, VLL International Inc. (VLLI), has secured a $150 million syndicated term loan facility.
The loan carries an interest rate of 6.40509% per annum and will be used to support the VLL Group’s working capital requirements and general corporate purposes, the company said in a disclosure on Monday.
The facility is guaranteed by VLL and several of its key subsidiaries, including Brittany Corporation, Crown Asia Properties Inc., Camella Homes Inc., Communities Philippines Inc., Vistamalls Inc., and Vista Residences Inc.
Sumitomo Mitsui Banking Corporation’s Singapore Branch acted as the mandated lead arranger, underwriter, and bookrunner for the transaction. Sumitomo Mitsui Banking Corporation also serves as the facility agent.
The transaction underscores Vista Land’s continued efforts to diversify its funding sources while supporting the growth and operational needs of its business units, which span residential development, commercial leasing, and retail operations across the Philippines.
Vista Land has been actively managing its capital structure amid fluctuating interest rates and evolving market conditions, with a focus on sustaining liquidity and funding flexibility across its property portfolio.
PropertyNews.ph
