Guohao Real Estate's stock price reached 1.54 yuan as of 1:04 pm on Tuesday, up 0.65%.
Guohao Real Estate successfully won the location in February this year, with a bid price of 627.84 million yuan, equivalent to a floor area ratio of 1,420 yuan per square foot. The site is a 99-year land deed, covering an area of 11,736 square meters (126,325 square feet), and can build 455 residential units.
The statement stated that GLL IHT can redeem the second batch of permanent securities at face value five years after July 14, or any dividend date afterwards.
Guohao Real Estate also announced late at night on Monday (7th) that its wholly-owned subsidiary GLL IHT has priced the second batch of subordinated perpetual securities (subordinated perpetual securities) with a coupon rate of 4.35%, and will merge with the first batch of subordinated perpetual securities issued on February 25 this year into a single series.
Singapore interest rates have been falling this year, and the continued decline in bank interest rates has caused local investors to start looking for higher yields, among which SGD corporate bonds have become the focus of attention.
Guohao Real Estate said that this batch of securities belongs to the company's plan for more than 3 billion yuan in currency medium-term notes. The second batch of 120 million yuan sub-permanent securities is expected to be issued at a price of 100.429% on July 14, with a face value of 250,000 yuan, plus accrued dividends from February 25 to July 14 (excluding the day).
This green financing was jointly provided by UOB, Bank of China Singapore Branch and OCBC Bank and was conducted under the framework of Guohao Real Estate's green finance.
permanent securities issued will be paid dividends on February 25 and August 25 each year, starting from August 25 this year, unless there is a delay. The coupon rate will be reset every five years and will be recalculated at the corresponding five-year SGD overnight index swap (SORA-OIS) rate.
The statement said that after deducting the issuance costs, the amount raised will be used for the general operating funds and corporate funds of the Group and its subsidiaries.
Guoco Land has made frequent financing moves recently. The group announced on Tuesday (July 8) that it had received RMB 619.3 million in green financing for the acquisition and development of the B location of River Valley Green.
Lei Zhiming, head of the investment advisory department of Citi Wealth Asia South, once said in an interview that he has observed an increase in funds flowing to SGD investment-grade corporate bonds by about 10% to 15%, mainly because short-term deposit rates and short-term (less than five-year term) Singapore government bond annual yields have fallen below 2%.