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Vista Land signs P2-B loan deal with Sumitomo Mitsui Banking Corp.

ERIKA FLETCHER-UNSPLASH

VILLAR-LED Vista Land & Lifescapes, Inc. has signed a P2-billion loan deal with the Manila branch of Sumitomo Mitsui Banking Corp. to finance the property developer’s capital expenditures.

The loan will also be used for refinancing and general corporate purposes, Vista Land said in a statement on Tuesday. 

The company did not provide further details on the loan agreement.

In January, Vista Land’s subsidiary VLL International, Inc. approved the establishment of a $2-billion medium-term note program as part of its fundraising initiatives.

VLL International tapped DBS Bank Ltd. and HSBC as dealers for the offer, sale, and issuance of the notes.

The notes are guaranteed by Vista Land and its subsidiaries consisting of Brittany Corp., Crown Asia Properties, Inc., Camella Homes, Inc., Communities Philippines, Inc., Vistamalls, Inc., and Vista Residences, Inc.

On Tuesday, Vista Land shares closed unchanged at P1.59 apiece. — Revin Mikhael D. Ochave

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