M Stanley, UBS lead Philippines Vista Land's USD100m bond debut
Wall Street bank Morgan Stanley (NYSE: MS PowerRating) and Swiss peer UBS (VTX:UBSN) served as joint lead managers and bookrunners for the first-ever US dollar
bond issue of Philippines' residential real estate developer Vista Land & Lifescapes (PSE:VLL).
The company said today it had pocketed USD100m (EUR74m) from the debt sale, which was also arranged by BDO Capital & Investment, part of Banco de Oro Unibank (PSE:BDO), in its capacity of domestic manager.
The unsecured bond due in 2015 pays an 8.25% coupon.
For details on Vista Land properties, please contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.
Source: Trading Markets, 27 September 2010
For details on the Real Estate Service Act or RESA Law > www.ra9646.com
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