---
title: "CityDev launches a multi-currency perpetual securities issuance plan worth over 2 billion yuan | Lianhe Zaobao"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282205932.md"
description: "City Developments Limited (CDL) has launched a multi-currency perpetual securities issuance program with a total value of SGD 2 billion. The net proceeds will be used for general working capital, corporate funding, and refinancing of existing loans. These securities will be issued in Singapore to institutional and qualified investors, with various amounts and interest rate options, and no fixed maturity date. The group has applied for listing on the Singapore Exchange, with UOB as the underwriter"
datetime: "2026-04-09T13:32:23.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282205932.md)
  - [en](https://longbridge.com/en/news/282205932.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282205932.md)
---

# CityDev launches a multi-currency perpetual securities issuance plan worth over 2 billion yuan | Lianhe Zaobao

City Developments Limited (CDL) has launched a Multicurrency Perpetual Securities Issuance Programme with a total value of SGD 2 billion.

The group announced in a statement after the market closed on Thursday (April 9) that the net proceeds raised will be used for general working capital, as well as corporate funding for the group and its subsidiaries, and will also be used for refinancing existing loans.

These perpetual securities will be issued to institutional investors and accredited investors in Singapore.

#### Further Reading

SGX Securities Market Shows Strong Performance in March with Average Daily Turnover Up 62% Year-on-Year Group's Net Profit Soars, City Developments President's Salary Jumps 71% to SGD 5.1 Million in FY2025

These perpetual securities have no fixed maturity date and can be issued in varying amounts, with either fixed or floating distribution rates. The issuer may also defer distributions.

The group has applied to the Singapore Exchange for permission to list these perpetual securities. United Overseas Bank (UOB) is the arranger and underwriter for this issuance programme.

City Developments' share price fell 1.75% on Thursday, closing at SGD 8.44.

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