CLP Power Hong Kong launches $4.5 billion medium-term note program

By William Gullotti

Buffalo, N.Y., March 28 – CLP Power Hong Kong Financing Ltd. launched a new $4.5 billion medium-term note program on the Stock Exchange of Hong Kong Ltd., according to a notice with an appended circular on Monday.

Notes sold under the program will be guaranteed by parent company CLP Power Hong Kong Ltd.

HSBC Ltd. is the arranger of the program, also acting as dealer along with ANZ, Barclays, BofA Securities, Citigroup, Credit Agricole CIB, Credit Suisse, Deutsche Bank, JPMorgan, Mizuho Securities, Morgan Stanley, MUFG, OCBC Bank, Standard Chartered Bank and UBS.

Several Deutsche Bank units will act as trustee, principal paying agent, transfer agent, exchange agent and registrar.

King & Wood Mallesons is counsel to the guarantor for English and Hong Kong law with Harney Westwood & Riegels LLP as counsel to the issuer in the British Virgin Islands. Linklaters is counsel to the dealers and trustee for English and Hong Kong law.

The 12-month Regulation S and Rule 144A program took effect March 25.

The Hong Kong-based electric company had a previous $4.5 billion MTN program.

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