GuocoLand S$110M Notes Issuance: 2.5% Coupon

GuocoLand plans to issue notes totaling S$110 million 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 program.

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 S$250,000, with semi-annual interest payments on March 30 and September 30 each year, starting March 30, 2027.

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

Net proceeds from the note 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%.