Vista Land & Lifescapes Inc. (VLL) said its wholly-owned subsidiary VLL International, Inc. (VLLI) has secured a $150-million syndicated term loan facility to support the group’s working capital and general corporate requirements.
In a disclosure on Monday, the company said the facility carries an interest rate of 6.40509 percent annually and is guaranteed by VLL and its key subsidiaries: Brittany Corp., Crown Asia Properties, Camella Homes, Communities Philippines, Vistamalls and Vista Residences.
The proceeds will be used “for financing, refinancing or reimbursing (directly or indirectly) working capital and general corporate purposes of the VLL Group,” it added.
Sumitomo Mitsui Banking Corp. Singapore Branch acted as mandated lead arranger, underwriter, and bookrunner. Sumitomo Mitsui Banking Corp. is also the facility agent.
The VLL group operates in four segments: horizontal, vertical, commercial and others. The horizontal and vertical segments focus on residential lot and unit sales and high-rise condominiums, respectively.
