GuocoLand to redeem $400m perpetual securities

The securities were issued under the group’s $3b multicurrency note programme.

Guocoland’s wholly owned subsidiary, GLL IHT, will redeem $400m subordinated perpetual securities, according to a bourse filing.

The securities will be redeemed at $250,000 for every $250,000 in a nominal amount of the perpetual securities, together with distribution accrued to but excluding 23 January 2025.

GLL IHT issued the securities with a coupon of 4.6% under the group’s $3b multicurrency medium-term note programme.

The global certificate will be presented and surrendered by the Central Depository to the issuing and paying agent.

Upon redemption, the securities will be cancelled thereafter and delisted from the Singapore Exchange Securities Trading.