PCPD (00432) plans to issue $500 million guaranteed notes due in 2029 with a coupon rate of 7.5%.

PCPD(00432) released a notice on May 11, 2026, stating that the company's indirectly wholly-owned subsidiary, PCPD Capital Limited (as the issuer), the company (as the guarantor), and The Hongkong and Shanghai Banking Corporation Limited (as the arranger) have entered into a subscription agreement for the proposed issuance of the notes. Under the terms and conditions of the subscription agreement, the issuer has agreed to issue the notes with a total principal amount of 500 million US dollars on May 15, 2026. Unless redeemed, repurchased, and cancelled in advance, the notes will be redeemed at 100% of their principal amount on May 15, 2029. The total amount raised from the issuance of the notes is 500 million US dollars. After deducting the estimated expenses and commissions required for the issuance of the notes, the company intends to use the net proceeds from the issuance of the notes to repay debts and for general corporate purposes. The company plans to list the notes on the Singapore Exchange, and will make efforts to ensure that the notes are listed and approved for trading on the Singapore Exchange, and will maintain the listing of the notes until all outstanding notes are repaid.