GuocoLand Proposes S$110M Notes: 2.5% Coupon for Working Capital

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, under the company's S$3 billion multi-currency medium-term note program.

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, with semi-annual coupon payments on March 30 and September 30 each year. The first payment date is March 30, 2027.

DBS Bank has been appointed as the 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's shares closed at S$2.18 on Monday, down 0.46%.