GuocoLand prices S$200m 5.5-year senior notes at 3.4%

GLL IHT, a wholly-owned subsidiary of mainboard-listed property developer GuocoLand, will issue at par S$200 million worth of new notes maturing on Aug 10, 2025.

The 5.5-year unsubordinated, unsecured notes carry a coupon of 3.4 per cent and will be guaranteed by GuocoLand, according to a term sheet seen by The Business Times.

Proceeds from the deal will finance general working capital and corporate requirements of the GuocoLand group and refinance existing debts.

They will be issued under GLL IHT's S$3 billion multicurrency medium-term note programme, and listed on the Singapore Exchange.

The joint lead managers and bookrunners for the deal are DBS Bank, OCBC Bank, Standard Chartered Bank and United Overseas Bank.

Shares of GuocoLand fell S$0.04 or 2.2 per cent to close at S$1.79 on Monday.