GuocoLand Plans S$110 Million Notes at 2.5% Coupon

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

The group announced in a filing on the Singapore Exchange after market close Monday that the notes will be issued by wholly-owned subsidiary GLL IHT and are part of the company's S$3 billion multi-currency medium-term note program.

GuocoLand will guarantee the notes, which 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 interest payments on March 30 and September 30 each year, starting March 30, 2027.

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

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

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