GuocoLand Issues SGD 110M Notes at 2.5% Coupon
GuocoLand plans to issue notes worth SGD 110 million 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 as part of the company's SGD 3 billion multi-currency medium-term note program.
The notes are guaranteed by GuocoLand, expected to be issued around June 30 this year, and mature on September 30, 2030. Each note has a face value of SGD 250,000, with semi-annual interest payments on March 30 and September 30 each year, with the first payment on March 30, 2027.
Issuance Arrangement and Use of Proceeds
DBS Bank has been appointed as the sole arranger and bookrunner for the notes.
The net proceeds from the issuance will be used as working capital for the group and its subsidiaries.
Market Performance
GuocoLand's closing share price on Monday was SGD 2.18, down 0.46%.
