Guocoland prices $300m notes at 3.29%

The notes were released under its $3m Multicurrency Medium Term Note Programme.

Guocoland Limited announced that one of its wholly-owned subsidiaries, GLL IHT, has priced its $300m worth of new notes at 3.29%.

CIMB Bank Berhad, Singapore Branch, DBS Bank Limited, Oversea-Chinese Banking Corporation Limited, Standard Chartered (Singapore) Limited and United Overseas Bank Limited were appointed as joint lead managers and bookrunners for the offering of the notes. 

The notes will be issued at an issue price of 100% of their principal amount and in denominations of $250,000. A fixed interest rate of 3.29%, per annum, payable semi-annually, in arrear on 26 April and 26 October, in each year, with the notes expected to mature on 26 October 2026. 

Net proceeds from the issuance of the notes will be used to finance the general working capital and corporate requirements of the company.

The notes are expected to be issued on 26 October 2021.