GuocoLand Issues S$110 Million Notes at 2.5% Coupon

GuocoLand plans to issue notes with a total value of S$110 million at an annual coupon rate of 2.5%.

The group announced on the SGX website that these notes will be issued by wholly-owned subsidiary GLL IHT and are part of the company's S$3 billion multi-currency medium-term note program.

Note Terms and Guarantee Arrangements

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 S$250,000, with semi-annual interest payments on March 30 and September 30 each year, starting March 30, 2027.

Underwriter and Use of Proceeds

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

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

Secondary Market Performance

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