With the company also continuing to evaluate various strategic alternatives involving its retail assets.
In a reply to the Philippine Stock Exchange last Tuesday, September 8, property company Vista Land and Lifescapes, Inc. (VLL) confirmed a recent report, specifically on the company’s consideration of selling two non-core malls for up to PHP15 billion as it explores funding options ahead of a US$420-million bond maturity in July 2027.
“The company confirms that it is evaluating opportunities to monetize selected non-core assets as part of its broader capital and liquidity management initiatives,” they wrote in a statement.”
Although, it clarified that it continues to evaluate various strategic alternatives involving its retail assets, such as potential transactions involving VistaREIT, Inc.—which will take into consideration prevailing market conditions, asset valuations, occupancy levels, and the interests of the company and its shareholders.
“At present, there is no definitive transaction that requires disclosure in connection with the reported potential injection of malls into VistaREIT, Inc,” VLL added.
Likewise, they are also evaluating other potential sources of liquidity such as the monetization of financial investments, bank financing, and other strategic alternatives, as appropriate.
Vista Land also told that they are continuously evaluating various funding and liquidity management alternatives in the ordinary course of its business to ensure that it remains well-positioned to meet its financial obligations.
Vista Land and Lifescapes also does not expect the evaluation of these potential funding alternatives, in itself, to have a “material adverse impact on its ongoing business and operations.”
“VLL maintains a diversified portfolio of real estate assets and continues to manage its liquidity and capital structure proactively. Any potential asset monetization or financing transaction would be assessed based on its impact on the company’s liquidity, leverage, financial flexibility, and overall long-term business objectives,” it furthered.
