GuocoLand issues S$110 million notes to raise working capital (2.5% coupon)

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

In a filing on the Singapore Exchange website after market close on Monday (June 22), the group said the notes will be issued by its wholly-owned subsidiary GLL IHT as part of its S$3 billion multi-currency medium-term note programme.

The notes are guaranteed by GuocoLand and are expected to be issued around June 30 and mature 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, starting on March 30, 2027.

Sole arranger and bookrunner

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

Use of proceeds

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

Market performance

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