GuocoLand to issue SGD 110M notes at 2.5% coupon for working capital

GuocoLand plans to issue notes totaling SGD 110M with an annual coupon rate of 2.5%.

The group posted an announcement on the Singapore Exchange website after market close on Monday (June 22). The notes will be issued by wholly-owned subsidiary GLL IHT and are part of the company's SGD 3B multi-currency medium-term note program.

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

Each note has a face value of SGD 250,000, paying semi-annual interest on March 30 and September 30 each year, with the first payment on March 30, 2027.

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

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

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