SEC OKs Vista Land, Cirtek debt offerings
Credit to Author: Tyrone Jasper C. Piad| Date: Wed, 27 Nov 2019 16:32:41 +0000
VISTA Land & Lifescapes Inc. and Cirtek Holdings Philippines Corp. were given the go-signal by the Securities and Exchange Commission (SEC) to proceed with their debt securities offering. In a statement on Wednesday, the SEC said that both firms’ applications were approved on November 26 and the issuance of corresponding orders of registration and permits to sell securities would then follow. Both their offerings would be listed at traded at the Philippine Dealing and Exchange Corp. Vista Land applied for P30-billion worth of fixed rate bonds. The offer bond, carrying a tenor of five years and six months from the issue date, may be redeemed at “101 percent of the principal amount on the third year or at 100.5 percent on the fourth anniversary of the issuance.” Meanwhile, Cirtek Holdings is set to issue commercial papers within three years from the effectivity of its registration. The firm intends to earn P1.88 billion from the offering to refinance debt and fund working capital requirements. On Thursday, Vista Land shares climbed by 3 centavos or 0.40 percent to end at P7.62 apiece, while Cirtek Holdings shares fell 17 centavos or 3.15 percent to finish at P5.23 each.