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GuocoLand subsidiary plans S$50M boost to S$350M securities offering

GuocoLand Ltd. subsidiary GLL IHT Pte. Ltd. is planning a S$50.0 million boost to its S$350.0 million offering of 4.60% subordinated perpetual securities.

The subsidiary is expected to issue the additional securities Feb. 8 in denominations of S$250,000 and at a price equal to 100% of the principal amount, including interest from Jan. 23 to Feb. 7.

The additional securities, similar to the previous offering of S$350.0 million, were both drawn from GLL IHT's S$3.00 billion multicurrency medium-term note program.

Net proceeds from the offering will be directed toward the general working expenditures of GuocoLand and its subsidiaries, according to a news release.

As of Feb. 2, US$1 was equivalent to S$1.32.