Korea Investment manages Vista Land $50 mn global bond issuance

Korea Investment & Securities Co. announced on Thursday that its Hong Kong subsidiary KIS Asia managed the issuance of $50 million in global bonds for Vista Land & Lifescapes, Inc., the largest real estate developer in the Philippines.

The issuance of these dollar-denominated bonds (RegS) was completed on July 30.

KIS Asia, along with global investment bank HSBC and DBS Bank of Singapore, participated as a joint lead manager for the bond issuance, which has a maturity of approximately five years and an issuance interest rate of 9.375% in dollars.

Previously, on July 22, Korea Investment & Securities also managed the issuance of $300 million in dollar-denominated bonds for Vista Land.

"This is the first instance of a Korean securities firm managing the issuance of global bonds for a local company in the Philippines," an official from Korea Investment & Securities said.

"We plan to expand our investment banking business by collaborating with our local subsidiaries in Hong Kong, Indonesia, Vietnam, Singapore, and other regions around the world to build an excellent track record."

Write to Man-Su Choe at [email protected]