GuocoLand Issues S$110M Notes: 2.5% Coupon
GuocoLand Plans to Issue S$110M Notes with 2.5% Annual Coupon
GuocoLand Limited plans to issue S$110 million worth of 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 its wholly-owned subsidiary GLL IHT Pte. Ltd. as part of the company's S$3 billion multi-currency medium-term note program.
The 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, paying interest semi-annually on March 30 and September 30 every year, with the first payment on March 30, 2027.
DBS Bank has been appointed as the sole lead arranger and bookrunner for the notes.
The net proceeds from the issuance will be used as working capital for the group and its subsidiaries.
GuocoLand shares closed at S$2.18 on Monday, down 0.46%.
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