PCPD (00432) has announced that on May 11, 2026, its indirect 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, entered into a subscription agreement for the proposed issuance of the notes. Subject to the terms and conditions of the subscription agreement, the issuer has agreed to issue the notes with an aggregate principal amount of USD 500 million at 100% of their principal amount on May 15, 2026. Unless previously redeemed, purchased, and cancelled, the notes will be redeemed at 100% of their principal amount on May 15, 2029. The gross proceeds from the issuance of the notes amount to USD 500 million. After deducting estimated fees and commissions payable for the issuance, the company intends to use the net proceeds for debt repayment and general corporate purposes. The company plans to list the notes on the Singapore Exchange. The issuer and the company will use reasonable endeavors to procure the listing of, and permission to deal in, the notes on the Singapore Exchange and to maintain such listing for as long as any notes remain outstanding.