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Haitong unit launches $1 billion guaranteed medium-term note program
By William Gullotti
Buffalo, N.Y., April 27 – Haitong International Finance Holdings Ltd. launched a new $1 billion guaranteed medium term program (BBB) guaranteed by parent company Haitong Securities Co., Ltd., on Wednesday, according to an offering circular on Thursday.
Program offerings may be issued in any currency agreed upon between the issuer, guarantor and relevant dealer. Unless otherwise specified in an individual pricing supplement, related issuances will be redeemable for taxation reasons and include put rights for relevant events.
Haitong International and Haitong Bank are the arrangers and dealers for the Regulation S program.
Citicorp International Ltd. is the trustee.
Application has been made to list the program on the Hong Kong Exchange for an effective period of one year.
The financial services company is based in Hong Kong. The subsidiary is incorporated in the British Virgin Islands.
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