Hongkong Land Holdings Limited announced that its wholly-owned subsidiary, Hongkong Land Company Limited issued 10-year Notes worth US$500 million through its wholly-owned subsidiary, Hongkong Land Finance (Cayman Islands) Company Limited.
The Joint Lead Managers and Joint Bookrunners for the offering were Hongkong and Shanghai Banking Corporation Limited, Standard Chartered Bank and Mitsubishi UFJ Securities International Plc.
Proceeds will be allocated for general corporate funding requirements. The Notes will pay a coupon of 4.5 percent per annum, while the reoffered price has been set at 98.796 percent to yield 4.652 percent per annum.
The Singapore Exchange Securities Trading Limited (SGX-ST) granted approval in principle for the Notes to be included in the Official List of the SGX-ST.
John R. Witt, Chief Financial Officer of Hongkong Land, said: “This is the second syndicated US dollar issue under the US$3 billion Guaranteed Medium Term Note Programme established in 2009 that is proposed to be listed.”
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