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Hongkong Land to issue US$600m 10-year notes due in 2030
HONGKONG Land Holdings' subsidiary The Hongkong Land Company has priced US$600 million of senior unsecured notes due in 2030, to be issued at a coupon of 2.875 per cent, payable on a semi-annual basis.
The notes - which have a maturity date of May 27, 2030 - are to be issued by the latter's subsidiary - The Hongkong Land Finance (Cayman Islands) Company Limited, as part of the issuer's guaranteed medium-term note programme.
Net proceeds from the issue will be used for general corporate purposes, said joint bookrunner and joint lead manager DBS Bank on Wednesday.
The other joint bookrunners and joint lead managers for the notes are Bank of China (Hong Kong), HSBC (B&D), Mizuho Securities, and Mitsubishi UFJ Financial Group.
Mainboard-listed Hongkong Land's shares were trading 1.5 per cent or US$0.06 higher at US$3.85 as at the midday break on Wednesday.