GUOLSP 4.600% Perpetual Corp (SGD)

Bond Factsheet

Matured/ Called

GLL IHT Pte Ltd

Indicative

Full Lot

Bid Price

99.900

Change in Bid Price

Bid Yield (%)

Change in Bid Yield

Ask Price

100.200

Change in Ask Price

Ask Yield (%)

Change in Ask Yield

Indicative price as of 23 Jan 2025, 12:00am

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Bond Information

GLL IHT Pte. Ltd. operates as a special purpose entity. The Company was formed for the purpose of issuing debt securities to repay existing credit facilities, refinance indebtedness, and for acquisition purposes.

Bond Issuer

GLL IHT Pte Ltd

Guarantor

GuocoLand Ltd

Announcement Date

15 Jan 2018

Issue Date

23 Jan 2018

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 0.300

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

4.600

Coupon Type

Variable

Annual Coupon Rate

4.600

Coupon Frequency

Semi Annually

Seniority

Subordinated

Reference Rate

Reset Date = 23 Jan 2025 and every 7 years thereafter
Reset Rate = Prevailing SGD 7Y SOR plus the Initial Spread (260.9bps) plus 100bps Distribution Step-Up

ISIN

SG7LH0000005

CUSIP

AQ7825500

Bond Currency

SGD

Total Issue Size

400,000,000

Min. Investment Quantity (Nominal)

SGD 250,000

Incremental Quantity (Nominal)

SGD 250,000

Bond Type

Corporate

Bond Sector

Financials

Bond Sub Sector

Real Estate Management and Development

Issuer Credit Rating (S&P/ Fitch)

***/ N.R

Bond Credit Rating (S&P/ Fitch)

***/ N.R

Shariah Compliant

Exchange Listed

SGX

Bond Feature(s)

Deferral Interest Payment

Cumulative Deferral

Any distribution deferred pursuant to this Condition 4(IV) shall constitute "Arrears of Distribution". The Issuer may, at its sole discretion, elect to (in the circumstances set out in Condition 4(IV)(a)) further defer any Arrears of Distribution by complying with the foregoing notice requirement applicable to any deferral of an accrued distribution. The Issuer is not subject to any limit as to the number of times distributions and Arrears of Distribution can or shall be deferred pursuant to this Condition 4(IV) except that this Condition 4(IV)(c) shall be complied with until all outstanding Arrears of Distribution have been paid in full.

Dividend Stopper

On any Distribution Payment Date, payments of all distribution scheduled to be made on such date are not made in full by reason of this Condition 4(IV), the Issuer and the Guarantor shall not:

(i) declare or pay any dividends or distributions or make any other payment on, and will procure that no dividend, distribution or other payment is made on, any of the Issuer's or the Guarantor's Junior Obligations or, in relation to Subordinated Perpetual Securities only, (except on a pro-rata basis) any of the Issuer's or the Guarantor's Parity Obligations; or

(ii) redeem, reduce, cancel, buy-back or acquire for any consideration, and will procure that no redemption, reduction, cancellation, buy-back or acquisition is made in respect of, any of the Issuer's or the Guarantor's Junior Obligations or, in relation to Subordinated Perpetual Securities only, (except on a pro-rata basis) any of the Issuer's or the Guarantor's Parity Obligations,

in each case, other than (A) in connection with any employee share option scheme, employee benefit plan or other similar arrangement with or for the benefit of the employees, officers, directors or consultants of the Issuer or the Guarantor or any of their respective subsidiaries, (B) as a result of the exchange or conversion of Parity Obligations of the Issuer or, as the case may be, the Guarantor for Junior Obligations of the Issuer or, as the case may be, the Guarantor and (C) as specified in the applicable Pricing Supplement, unless and until (I) (if Cumulative Deferral is specified as being applicable in the applicable Pricing Supplement) the Issuer has satisfied in full all outstanding Arrears of Distribution, (II) (if Non-Cumulative Deferral is specified as being applicable in the applicable Pricing Supplement) the next scheduled distribution has been paid in full or an Optional Distribution equal to the amount of a distribution payable with respect to the most recent Distribution Payment Date that was unpaid in full or in part, has been paid in full or (III) the Issuer or, as the case may be, the Guarantor is permitted to do so by an Extraordinary Resolution (as defined in the Trust Deed) of the Perpetual Securityholders.

Dividend Stopper

Look-back 6 months, capturing discretionary payments and purchases on parity and junior securities

Issuer Call

Callable on 23 January 2023 & every 6 months thereafter at 100

Coupon Step

Distribution Step-Up of 100 bps at the end of Year 7 plus (if applicable) the Change of Control margin

Change Control Call

Issuer call at par; else 100 bps step-up

If so provided hereon, the Perpetual Securities may be redeemed at the option of the Issuer in whole, but not in part, on any Distribution Payment Date or, if so specified hereon, at any time on giving not less than 30 nor more than 60 days notice to the Perpetual Securityholders and the Trustee (which notice shall be irrevocable), at their Redemption Amount (together with distribution (including Arrears of Distribution and any Additional Distribution Amount) accrued to (but excluding) the date fixed for redemption) following the occurrence of a Change of Control (as defined in the applicable Pricing Supplement).

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