Swire Properties renews $4 billion medium-term note program

By William Gullotti

Buffalo, N.Y., May 30 – China’s Swire Properties Ltd. has relaunched a $4 billion medium-term note program (A2//A), according to a notice with an appended offering circular on Tuesday.

The notes will be issued via subsidiary Swire Properties MTN Financing Ltd. and guaranteed by the parent company.

HSBC Ltd. and Standard Chartered Bank continue to be the joint arrangers of the program, also serving as dealers with Australia and New Zealand Banking Group Ltd., Bank of China (Hong Kong) Ltd., Barclays Bank plc, BNP Paribas, BOCI Asia Ltd., China Construction Bank (Asia) Corp. Ltd., Citigroup Global Markets Ltd., Credit Agricole CIB, DBS Bank Ltd., Deutsche Bank AG, Hong Kong Branch, Goldman Sachs (Asia) LLC, J.P. Morgan Securities plc, Merrill Lynch (Asia Pacific) Ltd., Mizuho Securities Asia Ltd., Morgan Stanley & Co. International plc, MUFG Securities EMEA plc, SMBC Nikko Securities (Hong Kong) Ltd., Societe Generale, UBS AG Hong Kong Branch and United Overseas Bank Ltd.

Citibank, NA, London Branch will act as principal paying agent, transfer agent and registrar.

Slaughter and May will act as legal adviser to both the issuer and guarantor, with Allen & Overy acting in the same capacity for the dealers.

The company initially launched a $3 billion MTN program in 2012 and increased the size to $4 billion in 2017.

Listing for the Regulation S program on the Stock Exchange of Hong Kong Ltd. became effective May 25.

Swire Properties is a Hong Kong-based commercial property developer.

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