Hong Kong’s Wharf launches new $7 billion medium-term note program

By William Gullotti

Buffalo, N.Y., May 10 – Wharf (Holdings) Ltd. and subsidiaries Wharf Finance (BVI) Ltd., Wharf Finance Ltd. and Wharf Finance (No. 1) Ltd. launched a new $7 billion medium-term note program, according to a listing notice with an appended offering circular on Tuesday.

Notes issued under the Regulation S program will be guaranteed by the parent company and may be issued by the parent or subsidiaries.

HSBC is the arranger for the program, also serving as a dealer alongside BNP Paribas, DBS Bank Ltd. and Standard Chartered Bank.

Deacons is counsel to the issuers and guarantor for England and Hong Kong law with Harney Westwood & Riegels acting in the same capacity in the British Virgin Islands. Linklaters is counsel to the dealers.

The program took effect on May 6 and will remain effective on the Hong Kong Exchange for 12 months.

Wharf Finance (BVI) is a BVI-incorporated special purpose entity and a wholly owned subsidiary of Wharf. Wharf Finance and Wharf Finance (No. 1) are wholly owned subsidiaries acting in the same capacity, except incorporated in Hong Kong.

Wharf is a Hong Kong-based conglomerate with businesses in property investment and development, communications, media and entertainment.

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