- 5.7512% p.a. for the Seven Year Bonds Due 2024
- 6.2255% p.a. for the Ten Year Bonds Due 2027
SEC gave approval for VLL to issue P3M worth for this tranche with an oversubscription option of another P2M in case of strong demand from investors/ lenders. This first tranche is part of the P20M approved by SEC for VLL as shelf registration – good for 3 years, which means you can expect more VLL bonds offerings for the next 3 years (and from other companies who availed of this shelf-registration).
WHERE TO BUY
The Bonds will be offered by VLL through the sole underwriter, China Bank Capital Corporation.
This tranche of VLL bonds is offered from July 18 to July 28, 2017 or until supplies last.
The Bonds are set to be issued on August 4, 2017.
Usually, bonds minimum investment is P50,000 and multiples of P10,000 for investment amounts exceeding P50,000. But to be sure get in touch with the underwriter.
Credit Rating and Investors Services Philippines, Inc. (“CRISP”) has rated the VLL Bonds as ‘AAA‘, which is the highest rating assigned by CRISP. Reasons for the AAA rating are: sustained leadership in low-cost and affordable housing, strong financial performance, strong management and successful operating model. CRISP outlook for VLL is stable.
WHICH DO YOU PREFER?
Source: VLL disclosures in PSE Edge
Photos from Vista Land and Chinabank website.
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