China’s Swire Pacific launches $5 billion medium-term note program

By William Gullotti

Buffalo, N.Y., Sept. 20 – Swire Pacific Ltd. launched a $5 billion medium-term note program (A3/A-/A-), according to an announcement Monday.

The notes will be issued through subsidiary Swire Pacific MTN Financing (HK) Ltd. and guaranteed by the parent company.

HSBC and Morgan Stanley & Co. International plc are the joint arrangers of the program.

They are also serving as joint dealers along with ANZ, Bank of China (Hong Kong), BofA Securities, Barclays, BNP Paribas, BOC International, China Construction Bank (Asia), Citigroup, Crédit Agricole CIB, DBS Bank Ltd., Deutsche Bank, ING, J.P. Morgan, Mizuho Securities, MUFG, National Australia Bank Ltd., SMBC Nikko, Standard Chartered Bank and UBS.

According to the appended circular to the announcement, proceeds from the program will be used for working capital and general corporate purposes.

The Rule 144A and Regulation S listing on the Stock Exchange of Hong Kong Ltd. became effective Sept. 20.

Swire Pacific is a Hong Kong-based commercial, retail and residential property developer and manager.

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