GuocoLand Issues S$110 Million Notes at 2.5% Coupon to Support Working Capital
GuocoLand plans to issue S$110 million in notes with a 2.5% annual coupon.
The group announced on the SGX website after market close on Monday (June 22) that the notes will be issued by wholly-owned subsidiary GLL IHT, as part of the company's S$3 billion multicurrency medium-term note program.
The notes are guaranteed by GuocoLand, expected to be issued around June 30, and mature on September 30, 2030. Each note has a face value of S$250,000, paying semi-annual interest on March 30 and September 30 each year, with the first payment on March 30, 2027.
DBS Bank has been appointed as the sole underwriter and bookrunner for the notes.
Net proceeds from the issuance will be used for working capital of the group and its subsidiaries.
GuocoLand's share price closed at S$2.18 on Monday, down 0.46%.

