Staff Reporter

, Singapore

Published:

11 months ago

GuocoLand prices $120m perpetual securities at 4.35%

Net proceeds will be used to finance the company’s general working capital.

GuocoLand announced that its wholly-owned subsidiary, GLL IHT Pte. Ltd., has priced its second tranche of perpetual securities offering of $120m at 4.35% under its $3b multicurrency medium-term note programme.

This issuance will be consolidated with the first tranche of perpetual securities to form a single series. It is expected to be issued on or around 14 July.

The second tranche will be issued in the denomination of $250,000 and will confer a right to receive distribution payments.

Distributions will be payable semi-annually on 25 February and 25 August each year, starting on 25 August unless deferred.

Net proceeds from the issue of the second tranche of perpetual securities will be used to finance general working capital and corporate requirements of GuocoLand and its subsidiaries.

CIMB Bank Berhad (Singapore Branch) and Oversea-Chinese Banking Corporation Limited were appointed as joint lead managers and bookrunners for the offering.

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GuocoLand

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