Corporate digest

Guocoland

PUBLIC-LISTED property company Guocoland proposed to issue bonds worth S$170 million, at 3.85 per cent, to lenders. The bonds, due in February 2023, have a June 15 settlement date of issue. The joint lead managers and bookrunners for the deal are DBS and OCBC banks.

Net proceeds from the issuance will be used to finance general working capital, including the refinancing of existing indebtedness and corporate requirements. In the first half of the year, Guocoland has issued four bonds - three in Singapore dollars and one in Hong Kong currency. DBS was involved in three of the four deals.