12 Jun '17, 3am

GuocoLand to issue S$170mil bonds

Singapore-listed real estate developer GuocoLand plans to issue bonds collectively valued at SGD170 million that pays an interest rate of 3.9%, reported The Business Times. Expected to be issued on Thursday (15 June), the bonds will mature by February 2023. GuocoLand will use the net proceeds from the issuance as general working capital. Aside from refinancing existing loans, it may also be used to fulfil corporate obligations. The new transaction’s joint bookrunners and lead managers are OCBC and DBS. In H1 2017, the company has issued four bonds – one in Hong Kong dollars and three in the local currency. Of this, DBS took part in three deals, including being the sole arranger for the notes denominated in the foreign currency. Christopher Chitty, Senior Content Specialist at PropertyGuru, edited this story.

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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