Huatai’s Pioneer Reward launches $3 billion guaranteed MTN program

By William Gullotti

Buffalo, N.Y., Aug. 1 – Huatai Securities Co., Ltd.’s subsidiary, Pioneer Reward Ltd., launched a $3 billion guaranteed medium-term note program (Baa1) on Monday, according to an offering circular released on Tuesday.

Program drawdowns will be issued by the subsidiary and guaranteed by the parent.

Huatai International is the sole arranger and dealer for the Regulation S program.

HSBC Ltd. is the trustee.

King & Wood Mallesons, BeiJing DeHeng Law Offices and Harney Westwood & Riegels are counsel to the issuer, with Jun He Law Offices and JunHe LLP advising the dealer.

Applications have been made to both the Singapore and Hong Kong Exchanges for the program, with July 31 commencing the 12-month program for the latter listing.

Pioneer Reward is a special-purpose entity, indirectly and wholly owned by Huatai, for issuances. The guarantor is a financial services company based in Nanjing, China.

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