GuocoLand to Issue S$110 Million Notes at 2.5% Coupon for Working Capital
GuocoLand plans to issue S$110 million of notes at an annual coupon rate of 2.5%.
In a statement released on the Singapore Exchange website after the market closed 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 and pays interest twice a year, on March 30 and September 30, with the first payment on March 30, 2027.
Underwriting and use of proceeds
DBS Bank has been appointed sole underwriter and bookrunner for the notes issue.
Net proceeds from the issue will be used as working capital for the group and its subsidiaries.
Share price performance
GuocoLand shares closed at S$2.18 on Monday, down 0.46%.
