Updated: GuocoLand announces S$170m bond issue

PUBLIC-LISTED property company GuocoLand has proposed to issue bonds worth S$170 million, at 3.85 per cent, to lenders.

The bonds are due in February 2023.

The settlement date of issue is June 15.

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 six months of the year, Guocoland has issued four bonds - three in Singapore dollars and one in Hong Kong dollars.

DBS was involved in three of the four deals, including the one in Hong Kong dollars, where it was the only arranging bank.