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GuocoLand Issues Bonds to Raise SGD 110 Million at 2.5% Coupon
GuocoLand plans to issue notes worth SGD 110 million with an annual coupon rate of 2.5%.
The group announced on the Singapore Exchange website after market close on Monday (June 22) that the notes will be issued by wholly-owned subsidiary GLL IHT as part of its SGD 3 billion multi-currency medium-term note program.
The notes are guaranteed by GuocoLand, expected to be issued around June 30 this year, and mature on September 30, 2030.
Each note has a face value of SGD 250,000, with semi-annual interest payments on March 30 and September 30 each year, first payment on March 30, 2027.
DBS Bank has been appointed as sole bookrunner and lead manager for the notes.
Net proceeds from the issuance will be used for working capital of the group and its subsidiaries.
GuocoLand shares closed at SGD 2.18 on Monday, down 0.46%.
