GuocoLand Issues S$110 Million Notes for Working Capital

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

The group announced on the Singapore Exchange website after market close on Monday (June 22) that the notes will be issued by 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 this year, maturing 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 on March 30, 2027.

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

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

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

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