Vista Land & Lifescapes, Inc. said it secured a five-year corporate notes facility worth P13.61 billion, with an initial drawdown of up to P7.22 billion priced at a fixed 7.8947 percent annual rate.
The company said the proceeds will be used mainly to refinance existing or maturing obligations, with the balance allocated for general corporate purposes.
Deal structure, guarantees
The facility was arranged by China Bank Capital Corp. as sole arranger and bookrunner.
China Banking Corp., through its Trust and Asset Management Group, is acting as facility and paying agent, notes registrar, and security trustee.
The borrowing is backed by guarantees from Vista Land subsidiaries, including Brittany Corp., Crown Asia Properties, Camella Homes, Communities Philippines, Vista Residences, and Vistamalls.
Earnings backdrop
The move comes amid resilient earnings from the property developer.
• Vista Land’s net income rose 4 percent to P9.5 billion in the first nine months of 2025, supported by steady project completions and cost controls.
• Growth was led by high-end projects under Brittany and affordable housing from Communities Philippines, while condominium sales at Vista Residences and some Mega Manila projects softened.
• Rental income increased 3 percent to P12.8 billion, driven by higher leasing rates across malls and other properties.
• Operating expenses fell 9 percent, helping offset a 17 percent rise in interest and financing costs to P5.9 billion as borrowing expenses increased.
—Edited by Miguel R. Camus
