GuocoLand Issues S$110M Notes for Working Capital
GuocoLand plans to issue S$110 million in notes with an annual coupon rate of 2.5%.
The group announced in a filing 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, as part of the company's S$3 billion multi-currency medium-term note programme.
The notes are guaranteed by GuocoLand and are expected to be issued around June 30, 2026, maturing on September 30, 2030. Each note has a face value of S$250,000, paying semi-annual coupons on March 30 and September 30 each year, with the first payment on March 30, 2027.
DBS Bank has been appointed as the sole lead manager and bookrunner for the notes.
The net proceeds from the issuance will be used for the working capital of the group and its subsidiaries.
GuocoLand shares closed at S$2.18 on Monday, down 0.46%.
