Sun Hung Kai unit lists $3 billion medium-term note program

By William Gullotti

Buffalo, N.Y., April 16 – Hong Kong’s Sun Hung Kai & Co. Ltd. and its Sun Hung Kai & Co. (BVI) Ltd. unit launched a $3 billion guaranteed medium-term note program on Monday, according to a listing notice with an appended offering circular on Tuesday.

Notes listed under the Regulation S program will be issued by the subsidiary and guaranteed by the parent.

Standard Chartered Bank and UBS AG Hong Kong Branch are the program arrangers, also serving as dealers with Bank of China (Hong Kong) Ltd., China International Capital Corp., Hong Kong Securities Ltd. and Mizuho Securities Asia Ltd.

Additional dealers may be appointed by the issuer and/or guarantor for individual program offerings.

Citicorp International Ltd. is the fiscal agent, CMU lodging agent and paying agent. Citibank, NA, London Branch is the transfer agent, registrar and paying agent.

Clifford Chance and Maples and Calder (Hong Kong) LLP are advising the issuer and guarantor, with Linklaters and Zhong Lun Law Firm serving as counsel to the dealers.

The 12-month program is effective as of April 15, with an April 16 listing date on the Stock Exchange of Hong Kong Ltd.

Sun Hung Kai is a Hong Kong-based financial and securities holding company.

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