To Raise Working Capital, GuocoLand Issues S$110 Million Notes

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

The group announced on the Singapore Exchange website after market close on Monday (June 22). The notes are issued by wholly-owned subsidiary GLL IHT as 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 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 March 30, 2027.

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

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%.