To raise working capital, GuocoLand issues S$110m notes

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

The group announced on Monday (June 22) after market close on the SGX website that the notes will be issued by wholly-owned subsidiary GLL IHT, part of the company's S$3 billion multi-currency medium-term note programme.

The notes are guaranteed by GuocoLand and are expected to be issued around June 30, 2026, maturing on September 30, 2030. The face value of each note is S$250,000, with semi-annual interest payments on March 30 and September 30 each year, first payment on March 30, 2027.

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

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

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