New Issue: Airport Authority Hong Kong prices HK$4 billion of 3.83% notes due 2027 at par

By William Gullotti

Buffalo, N.Y., Jan. 10 – Airport Authority Hong Kong sold HK$4 billion of 3.83% notes due July 9, 2027 (AA+) at par, according to a listing notice with appended offering documents on Wednesday.

The notes are issued under the company’s $8 billion medium-term note program.

Bank of China, Citigroup, HSBC, Standard Chartered Bank, UBS, ANZ, BNP Paribas, Credit Agricole CIB, DBS Bank Ltd. and Mizuho are the joint lead managers and joint bookrunners, with Bank of China, Citi, HSBC, Standard Chartered and UBS also acting as joint global coordinators.

Agricultural Bank of China, Bank of Communications, Barclays, BofA Securities, China Everbright Bank Hong Kong Branch, China Merchants Bank, CIBC Capital Markets, Deutsche Bank, Goldman Sachs (Asia) LLC, ICBC, J.P. Morgan, Morgan Stanley, OCBC, Scotiabank and SMBC Nikko participated as additional lead managers.

Bank of New York Mellon, via its London, Luxembourg and Hong Kong branches, is acting as fiscal agent, paying agent, CMU lodging agent and registrar.

Proceeds will be used to fund capital expenditures, including the company’s 3RS Project, and for general corporate purposes.

Listing for the Regulation S notes is expected on the Hong Kong Exchange effective Jan. 10.

The issuer is a statutory body corporate established in Hong Kong under the Airport Authority Ordinance.

Issuer:	Airport Authority Hong Kong
Amount:	HK$4 billion
Issue:	Notes
Maturity:	July 9, 2027
Bookrunners:	Bank of China, Citigroup, HSBC, Standard Chartered Bank, UBS, ANZ, BNP Paribas, Credit Agricole CIB, DBS Bank Ltd. and Mizuho
Lead managers:	Agricultural Bank of China, Bank of Communications, Barclays, BofA Securities, China Everbright Bank Hong Kong Branch, China Merchants Bank, CIBC Capital Markets, Deutsche Bank, Goldman Sachs (Asia) LLC, ICBC, JPMorgan, Morgan Stanley, OCBC, Scotiabank and SMBC Nikko
Trustee:	Bank of New York Mellon (via branches as fiscal agent)
Counsel to issuer:	Linklaters
Counsel to underwriters:	Allen & Overy
Coupon:	3.83%
Price:	Par
Yield:	3.83%
Pricing date:	Jan. 2
Issue date:	Jan. 9
Listing date:	Jan. 10
Rating:	S&P: AA+
Distribution:	Regulation S
ISIN:	HK0000971520

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