By William Gullotti
Buffalo, N.Y., Jan. 20 – Link Finance (Cayman) 2009 Ltd., a wholly owned financing subsidiary of the Link Real Estate Investment Trust, priced $600 million of 2¾% guaranteed notes due 2032 (A2/A) at 99.049, according to a listing notice with an appended offering circular on Thursday.
Link Holdings Ltd., Link Properties Ltd. and HSBC Institutional Trust Services (Asia) Ltd., in its capacity as trustee, and with recourse limited to the assets of Link REIT, will guarantee the notes.
The notes are issued under the company’s $5 billion guaranteed euro medium-term note program.
DBS Bank Ltd. and HSBC Ltd. are the joint global coordinators, joint lead managers and joint bookrunners for the offering.
Also serving as joint lead managers and joint bookrunners are Bank of China (Hong Kong) Ltd., Merrill Lynch (Asia Pacific) Ltd. and Mizuho Securities Asia Ltd.
Proceeds will be used for general corporate purposes.
The listing for the Regulation S notes is expected Jan. 20 on the Stock Exchange of Hong Kong Ltd.
Link is a Hong Kong-based real estate investment trust that invests in retail and parking facilities. The parent is Link Asset Management Co., Ltd.
| Issuer: | Link Finance (Cayman) 2009 Ltd.
|
| Guarantors: | Link Real Estate Investment Trust, Link Holdings Ltd., Link Properties Ltd. and HSBC Institutional Trust Services (Asia) Ltd.
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| Amount: | $600 million
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| Issue: | Guaranteed notes
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| Maturity: | Jan. 19, 2032
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| Bookrunners: | DBS Bank Ltd., HSBC Ltd., Bank of China (Hong Kong) Ltd., Merrill Lynch (Asia Pacific) Ltd. and Mizuho Securities Asia Ltd.
|
| Counsel to issuer: | Baker & McKenzie (Hong Kong), Maples and Calder (Hong Kong) LLP (Cayman Islands)
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| Coupon: | 2¾%
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| Price: | 99.049
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| Pricing date: | Jan. 11
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| Issue date: | Jan. 19
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| Listing date: | Jan. 20
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| Ratings: | Moody’s: A2
|
| S&P: A
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| Distribution: | Regulation S
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| ISIN: | XS2417084030
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