GuocoLand issues S$110 million notes with coupon rate of 2.5%
GuocoLand plans to issue notes totaling S$110 million with an annual coupon rate of 2.5%.
In a filing on the Singapore Exchange website after market close on Monday, the group said the notes will be issued by its wholly-owned subsidiary GLL IHT, as part of the company's S$3 billion multicurrency medium-term note program.
The notes are guaranteed by GuocoLand and are expected to be issued around June 30 this year, maturing on September 30, 2030. Each note has a face value of S$250,000 and pays interest semi-annually 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 note issuance.
The net proceeds from the issuance will be used as working capital for the group and its subsidiaries.
GuocoLand's shares closed at S$2.18 on Monday, down 0.46%.
