GuocoLand to issue notes worth 110 million, with 2.5% coupon

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

In a statement released on the Singapore Exchange website after market close on Monday, the group said the notes will be issued by wholly owned subsidiary GLL IHT and form part of its S$3 billion multicurrency medium-term note programme.

Issuance schedule and maturity

The notes will be guaranteed by GuocoLand and are expected to be issued around June 30 this year, with maturity on September 30, 2030. Each note has a face value of 250,000, pays interest twice a year on March 30 and September 30, and the first payment date is March 30, 2027.

Underwriting and use of proceeds

DBS Bank has been appointed sole underwriter and bookrunner for the issue.

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

Share performance

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