By William Gullotti
Buffalo, N.Y., Oct. 26 – Hong Kong Mortgage Corp. Ltd. priced HK$8 billion of 5% notes due 2024 and RMB 3 billion 3.4% notes due 2025 (Aa3/AA+) at par, according to a listing notice with an appended offering circular on Wednesday.
Both series of notes are issued under the company’s $30 billion medium-term note program and are non-callable.
Credit Agricole CIB, HSBC Ltd., Standard Chartered Bank, ANZ Banking Group Ltd., Bank of China (Hong Kong) Ltd., Citigroup Global Markets Ltd., Mizuho Securities Asia Ltd. and United Overseas Bank Ltd., Hong Kong Branch are the managers for the syndicated offering.
Proceeds from each tranche will be used exclusively to finance and/or refinance eligible projects under the company’s social, green and sustainability financing framework.
Listings for both tranches of Regulation S notes are expected on the Hong Kong Exchange effective Oct. 26.
Hong Kong Mortgage is a government-controlled buyer of home loans.
| Issuer: | Hong Kong Mortgage Corp. Ltd.
|
| Issue: | Notes
|
| Managers: | Credit Agricole CIB, HSBC Ltd., Standard Chartered Bank, ANZ Banking Group Ltd., Bank of China (Hong Kong) Ltd., Citigroup Global Markets Ltd., Mizuho Securities Asia Ltd. and United Overseas Bank Ltd., Hong Kong Branch
|
| Counsel to issuer: | Clifford Chance (Hong Kong, England)
|
| Counsel to dealers: | Allen & Overy (England)
|
| Call features: | Non-callable
|
| Pricing date: | Oct. 18
|
| Issue date: | Oct. 25
|
| Listing date: | Oct. 26
|
| Ratings: | Moody’s: Aa3
|
| S&P: AA+
|
| Distribution: | Regulation S
|
|
|
| 2024 notes
|
| Amount: | HK$8 billion
|
| Maturity: | Oct. 25, 2024
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5%
|
| ISIN: | HK0000881497
|
|
|
| 2025 notes
|
| Amount: | RMB 3 billion
|
| Maturity: | Oct. 25, 2025
|
| Coupon: | 3.4%
|
| Price: | Par
|
| Yield: | 3.4%
|
| ISIN: | HK0000881489
|
|
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