GuocoLand Issues S$110M New Notes: 2.5% Coupon for Working Capital
## GuocoLand Plans to Issue S$110M Notes
GuocoLand plans to issue notes worth S$110 million with an annual coupon rate of 2.5%. The group announced on the SGX website after market close on Monday (June 22) that these notes will be issued by wholly-owned subsidiary GLL IHT, as part of the company's S$3 billion multi-currency medium-term note program.
## Guarantee and Issuance Timeline
The notes are guaranteed by GuocoLand, expected to be issued around June 30 this year, and mature on September 30, 2030.
- Face value per note: S$250,000
- Interest payment: Semi-annual
- Payment dates: March 30 and September 30 each year
- First payment: March 30, 2027
## Underwriter and Use of Proceeds
DBS Bank has been appointed as the sole lead manager and bookrunner for the notes issue.
Net proceeds from the issuance will be used as working capital for the group and its subsidiaries.
## Share Price Performance
GuocoLand shares closed at S$2.18 on Monday, down 0.46%.
Disclaimer: This article is for reference only and does not constitute investment advice. Investment involves risks, please invest cautiously.
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