China’s Far East Horizon updates MTN program to include perpetuals

By Marisa Wong

Morgantown, W.Va., May 31 – Far East Horizon Ltd. said it has updated its medium-term note program to include the issuance of perpetual securities.

The program was established on April 5, 2012, then increased to $1.5 billion from $1 billion on May 2, 2013, increased again to $3 billion on April 14, 2014 and finally expanded to $4 billion on April 22, 2015.

HSBC Ltd. and Standard Chartered Bank (Hong Kong) Ltd. are the arrangers under the updated program.

Proceeds will be used for working capital and general corporate purposes.

Far East Horizon is a financial leasing unit of Sinochem Group, which is a Hong Kong-based business conglomerate with interests in agriculture, energy, chemicals, real estate and finance.

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