To Raise Working Capital, GuocoLand Plans S$110M Note Issuance
GuocoLand plans to issue S$110 million in notes with an annual coupon rate of 2.5%.
The group said in a filing on the Singapore Exchange after market close on Monday (June 22) that the notes will be issued by 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, 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 each year, with the first payment on March 30, 2027.
DBS Bank has been appointed as the sole bookrunner and lead manager for the note issuance.
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%.
