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Published on 3/27/2023 in the Prospect News Emerging Markets Daily.

CLP Power launches new $4.5 billion medium-term note program

By William Gullotti

Buffalo, N.Y., March 27 – CLP Power Hong Kong Financing Ltd. launched a new $4.5 billion medium-term note program on the Stock Exchange of Hong Kong Ltd., according to a notice with an appended circular on Monday.

Notes sold under the multicurrency program will be guaranteed by parent company CLP Power Hong Kong Ltd.

HSBC Ltd. is the arranger of the program, also acting as dealer along with ANZ Banking Group Ltd., Barclays, BofA Securities, Citigroup Global Markets Ltd., Credit Agricole CIB, Credit Suisse (Hong Kong) Ltd., Deutsche Bank AG Hong Kong Branch, J.P. Morgan Securities plc, Mizuho Securities Asia Ltd., Morgan Stanley & Co. International plc, MUFG Securities EMEA plc, Oversea-Chinese Banking Corp. Ltd., Standard Chartered Bank (Hong Kong) Ltd. and UBS AG Hong Kong Branch.

DB Trustees (Hong Kong) Ltd. is the trustee.

King & Wood Mallesons is counsel to the guarantor for English and Hong Kong law with Harney Westwood & Riegels LLP as counsel to the issuer in the British Virgin Islands. Linklaters is counsel to the dealers and trustee for English and Hong Kong law.

The 12-month Regulation S and Rule 144A program took effect March 24.

The Hong Kong-based electric company has had multiple previous one-year $4.5 billion MTN programs.


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