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Vista Land & Lifescapes Inc. of billionaire Manuel Villar revealed an attractive dividend payout to investors that will subscribe to its P5-billion preferred shares offering.
The dividend rate for VLL2A will be applicable for four years. If unredeemed on the fourth year, Vista Land will have to pay higher step-up interest rate based on the prevailing 10-year benchmark plus 3 percentage spread. Vista Land plans to sell 30 million Series 2 preferred shares, with an oversubscription option for another 20 million. The shares will be sold at P100 apiece.
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