GuocoLand Issues S$110M Notes, 2.5% Coupon for Working Capital

GuocoLand plans to issue S$110 million in notes, with an annual coupon rate of 2.5%.

The group announced on the Singapore Exchange website after market close on Monday (June 22) that the notes will be issued by wholly-owned subsidiary GLL IHT and are part of the company's S$3 billion multi-currency medium-term note program.

Note Terms and Issuance Arrangements

These notes are guaranteed by GuocoLand and are expected to be issued around June 30, maturing on September 30, 2030. Each note has a face value of S$250,000, with semi-annual interest payments on March 30 and September 30 each year; the first payment is due on March 30, 2027.

DBS Bank has been appointed as the sole lead manager and bookrunner for the note issuance.

The net proceeds from this issuance will be used as working capital for the group and its subsidiaries.

Market Performance

GuocoLand shares closed at S$2.18 on Monday, down 0.46%.