GuocoLand prices S$300 million notes due 2026

GuocoLand, HSBC and Bank of China buildings at dusk in Singapore; taken August 2018.GuocoLand, HSBC and Bank of China buildings at dusk in Singapore; taken August 2018.

GuocoLand’s wholly owned subsidiary GLL IHT priced an offering of S$300 million notes due 2026 at 3.29 percent, the property developer said in a filing to SGX Monday.

The net proceeds are earmarked to finance general working capital and corporate requirements, including to refinance existing indebtedness, GuocoLand said.

The filing said the notes are expected to be issued on or around 26 October.

The interest will be paid on 26 April and 26 October of each year, with maturity on 26 October 2026, the filing said.

The joint lead managers and bookrunners for the offering are CIMB Bank’s Singapore branch, DBS Bank, OCBC, Standard Chartered Bank (Singapore) and UOB, the filing said.

The notes will be issued at 100 percent of the principal amount, in denominations of S$250,000, the filing said.

The notes will be issued under the company’s S$3 billion multi-currency medium-term note program, the filing said.