Vista Land [VLL 1.50, up 2.0%; 0% avgVol] [link] disclosed that its board has approved a P5 billion preferred shares offering, consisting of 50,000,000 Series 2 Preferred Shares priced at P100/share. VLL said that China Bank Capital and SB Capital will be joint lead underwriters on the deal. The company did not provide any information about the potential dividend or the timeline for the offer period and listing of the shares.
MB bottom-line: This prefs sale comes after VLL had to kill its disastrous attempt to sell $700 million in US Dollar-denominated bonds back in late January. Back then, VLL’s bonds were simply not shiny enough to compete with the yields of other (better) issuers. When it pulled the bonds there was an expectation that VLL would try again once rates had come down a bit, and while rates have not gone down, perhap s this smaller offering is intended to deal with whatever short-term needs the company has while it waits to make a bond offering at some future time when rates are lower.
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MANILA, Philippines — Rob in Padilla’s daughter Queenie announced her separation from non-showbiz Pakistani husband Usama Mir.
In her Instagram account, Queenie said that the reason for their separation is “irreconcilable incompatibility.”
“Assalamualaikum, after much thought and consideration my husband and I have decided to separate due to irreconcilable incompatibility,” Robins’s daughter with Liezl Sicangco said.
“This decision wasn’t taken overnight it has been year s and months of trying to working things out,” she added.
Queenie said that Usama has be en a good father to their child.
“I will always have love, honour and respect for the father of my child. He’s a great father and responsible human being,” she said.
She said that she will cherish the moments of them being together as she thanked her fans for the support.
“Although life has taken us on different paths right now, I will forever cherish the 11 years we’ve had together,” she said.
“Thank you for all your support over the years. Please respect our privacy during this difficult time,” she added.
Queenie and Usama tied the knot in September 2012. The couple has a daughter.
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