GuocoLand Issues 110M Notes: 2.5% Coupon for Working Capital

GuocoLand plans to issue notes totaling SGD 110 million, with an annual coupon rate of 2.5%.

The group said in an SGX filing after market close on Monday (June 22) that the notes will be issued by wholly owned subsidiary GLL IHT as part of its SGD 3 billion multi-currency medium-term note program.

Note Terms and Issuance Arrangements

The notes are guaranteed by GuocoLand, expected to be issued around June 30 this year, and will 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, starting March 30, 2027.

Underwriter and Use of Proceeds

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

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

Share Performance

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