GuocoLand Issues S$110 Million Notes with Coupon of 2.5%

GuocoLand plans to issue S$110 million in notes 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 wholly-owned subsidiary GLL IHT Pte. Ltd., under the company's S$3 billion multi-currency medium-term note programme.

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 due on March 30, 2027.

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

The net proceeds from the issue will be used as working capital for the group and its subsidiaries.

GuocoLand's share price closed at S$2.18 on Monday, down 0.46%.