Logistics Firm GLP Raises $300 Million in New Bond, Reports Loss

Asian logistics property developer GLP Pte. has sold a three-year $300 million bond, returning to the debt market after a recent canceled sale as it faces a $1 billion note coming due.

GLP’s first dollar-denominated bond since 2021 is priced at a 9.75% coupon and includes an upsize option of up to $200 million in principal, according to a pricing document Thursday and Bloomberg terminal data. The Singapore-headquartered company also reported 2024 results, showing a $1.8 billion of loss and an 11% year-on-year revenue decline.