GuocoLand prices S$300m notes due 2026 at 3.29%

Vivienne Tay

Published Tue, Oct 19, 2021 · 08:24 AM

GUOCOLAND has priced its offering of S$300 million notes due 2026, to be issued at par on or about Oct 26.

The notes will bear a coupon of 3.29 per cent per annum, payable semi-annually in arrear on Apr 26 and Oct 26 in each year. They also fall under the property developer's S$3 billion multicurrency medium-term note programme.

The issuance reached an order book of S$400 million. Singaporean investors continue to anchor the trade, making up 96 per cent of the orders, according to deal statistics seen by The Business Times.

About two-thirds, or 67 per cent of the notes were allocated to private banks and corporations; while the remaining 33 per cent went to funds and banks.

Net proceeds from the notes issuance will be used to finance the general working capital and corporate requirements of the company and its subsidiaries, including refinancing existing indebtedness.

CIMB, DBS, OCBC, Standard Chartered Bank and UOB have been appointed as joint lead managers and bookrunners.