Swire Properties Limited (“Swire Properties”) is pleased to announce that its wholly-owned subsidiary, Swire Properties MTN Financing Limited, has established a US$3 billion medium-term note (MTN) programme. Notes issued under the MTN programme will be unconditionally and irrevocably guaranteed by Swire Properties. The MTN programme is rated [A] by Fitch Ratings Limited, [(P)A2] by Moody’s Investors Services Limited and [A-] by Standard & Poor’s Ratings Services, in each case in respect of notes with a maturity of more than one year.
The MTN programme will enable Swire Properties to raise money directly from the capital markets in the future should the need arise. Under the MTN programme, notes may be issued in US dollars or in other currencies, in various amounts and for various tenors.
The Stock Exchange of Hong Kong Limited has granted conditional approval for the listing of the MTN programme and permission to deal in the notes to be issued under the MTN programme. The Hongkong and Shanghai Banking Corporation Limited and Standard Chartered Bank acted as arrangers of the MTN programme.
As a leading developer in Hong Kong, Swire Properties develops and manages world-class commercial, retail, hotels and residential properties, typically in large mixed-use developments. In addition to Hong Kong and Mainland China, Swire Properties has a presence in the United States and the United Kingdom.