Hang Lung launches new $4 billion MTN program

By William Gullotti

Buffalo, N.Y., May 9 – HLP Finance Ltd., a wholly owned subsidiary of Hang Lung Properties Ltd., launched a new $4 billion medium-term note program, according to a listing notice with an appended offering circular on Tuesday.

As with the previous two consecutive programs of identical size, program drawdowns will be issued by HLP and guaranteed by Hang Lung.

HSBC is the arranger, as well as serving as a dealer with ANZ, BofA Securities, Bank of China (Hong Kong), BNP Paribas, Citigroup, Credit Agricole CIB, DBS Bank Ltd., Deutsche Bank, Goldman Sachs, Mizuho Securities, MUFG, OCBC Bank, Standard Chartered Bank, UBS and UOB.

Mayer Brown is counsel to the issuer for England and Hong Kong with Harney Westwood & Riegels acting in the same capacity for the British Virgin Islands.

Clifford Chance is counsel to the dealers.

The company may issue notes under the Regulation S program within 12 months after May 8, the effective listing date for the program on the Stock Exchange of Hong Kong Ltd.

Hang Lung is a Hong Kong-based real estate company. HLP Finance is a British Virgin Islands-incorporated special purpose financing entity.

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