The securities carry a coupon of 4.60% per annum (p.a.) and was issued under the group’s $3 billion multicurrency medium term note programme.
According to GuocoLand, the decision to do so was in view of the current interest rate environment.
“The issuer continues to have sufficient funding sources in place, and maintains the flexibility to exercise the issuer’s redemption option on any distribution payment date falling after the first call date, taking into account market and other conditions,” reads the statement released by GuocoLand.
There will not be a reset of the distribution rate of the securities on Jan 23, 2023, which will remain at 4.60% p.a. Distributions on the perpetual securities will continue to be payable semi-annually in arrears on Jan 23 and July 23 of each year.
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The next distribution payment will be made on Jan 23, 2023.
Shares in GuocoLand closed 1 cent higher or 0.62% up at $1.63 on Dec 16.
