Article Summary: GuocoLand plans to issue S$110 million notes with 2.5% coupon, issued by wholly-owned subsidiary GLL IHT and guaranteed, net proceeds to supplement working capital.
GuocoLand Issues S$110 Million Notes with 2.5% Coupon for Working Capital
GuocoLand plans to issue S$110 million in notes. The annual coupon rate is 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 form part of the company's S$3 billion multi-currency medium-term note program.
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.
Issuance Arrangements and Use of Proceeds
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.
Stock Performance
GuocoLand shares closed at S$2.18 on Monday, down 0.46%.
