To Raise Working Capital, GuocoLand Issues S$110 Million Notes

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

The group announced after market close on Monday (June 22) on the Singapore Exchange website 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.

Note Size, Guarantee and Issuance Date

The notes are guaranteed by GuocoLand and are expected to be issued around June 30 this year, maturing on September 30, 2030.

Face Value and Interest Payment

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.

Underwriting Arrangement and Use of Proceeds

DBS Bank has been appointed as the sole underwriter and bookrunner for the note issuance.

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

Share Price Performance

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