GuocoLand Plans to Issue S$110 Million Notes: 2.5% Coupon, Due 2030
GuocoLand plans to issue notes with an aggregate value of S$110 million at an annual coupon rate of 2.5%.
In a statement posted on the Singapore Exchange website after market close on Monday (June 22), the notes will be issued by wholly owned subsidiary GLL IHT as part of the company's S$3 billion multicurrency medium-term note programme.
The notes will be guaranteed by GuocoLand, are expected to be issued around June 30 this year, and will mature on September 30, 2030. Each note has a face value of S$250,000, with interest paid semiannually on March 30 and September 30 each year, starting on March 30, 2027.
DBS Bank has been appointed as sole underwriter and bookrunner for the issue.
Net proceeds from the issue will be used as working capital for the group and its subsidiaries.
GuocoLand shares closed on Monday at S$2.18, down 0.46%.
