By William Gullotti
Buffalo, N.Y., Oct. 18 – GuocoLand Ltd. said its wholly owned subsidiary, GLL IHT Pte. Ltd., priced S$300 million 3.29% five-year notes at par, according to an announcement on Monday.
The Regulation S notes will be guaranteed by the parent company and issued under its S$3 billion multicurrency medium-term note program.
The notes will be callable for taxation purposes at par plus accrued and unpaid interest.
CIMB Bank Bhd., Singapore Branch, DBS Bank Ltd., Oversea-Chinese Banking Corp. Ltd., Standard Chartered Bank (Singapore) Ltd. and United Overseas Bank Ltd. are the joint lead managers and joint bookrunners for the offering.
Proceeds will be used for financing general working capital, corporate requirements and to refinance existing indebtedness.
According to the announcement, the notes are expected to be issued Oct. 26.
GuocoLand is an investment holding company that focuses on real estate properties in Singapore, China, Malaysia and Vietnam.
| Issuer: | GLL IHT Pte. Ltd.
|
| Guarantor: | GuocoLand Ltd.
|
| Issue: | Notes
|
| Amount: | S$300 million
|
| Maturity: | Oct. 26, 2026
|
| Bookrunners: | CIMB Bank Bhd., Singapore Branch, DBS Bank Ltd., Oversea-Chinese Banking Corp. Ltd., Standard Chartered Bank (Singapore) Ltd. and United Overseas Bank Ltd.
|
| Coupon: | 3.29%
|
| Price: | Par
|
| Yield: | 3.29%
|
| Call option: | For taxation purposes, at par plus accrued and unpaid interest
|
| Announcement date: | Oct. 18
|
| Issue date: | Oct. 26
|
| Distribution: | Regulation S
|
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