GuocoLand Issues S$110M Notes at 2.5% Coupon for Working Capital

GuocoLand plans to issue S$110 million in notes with an annual coupon rate of 2.5%.

In a filing on the Singapore Exchange website after market close on Monday (June 22), the group said the notes will be issued by its wholly-owned subsidiary GLL IHT as part of its S$3 billion multicurrency medium-term note program.

The notes are guaranteed by GuocoLand, expected to be issued around June 30, and mature on September 30, 2030. Each note has a face value of S$250,000, with semi-annual interest payments on March 30 and September 30 each year, beginning March 30, 2027.

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

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

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