Hong Kong’s MTR launches $7 billion debt issuance program

By William Gullotti

Buffalo, N.Y., Nov. 1 – MTR Corp. Ltd. and subsidiary MTR Corp. (C.I.) Ltd. established a new $7 billion debt issuance program, according to a notice with an appended offering circular on Tuesday.

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

HSBC is the arranger for the Regulation S program.

ANZ, Barclays Bank plc, BNP Paribas, Citigroup Global Markets Ltd., Credit Agricole CIB, Deutsche Bank AG, Hong Kong Branch, Goldman Sachs (Asia) LLC, HSBC Ltd., J.P. Morgan Securities plc, Merrill Lynch (Asia Pacific) Ltd., Mizuho Securities Asia Ltd., Morgan Stanley & Co. International plc, MUFG Securities EMEA plc, Nomura International plc, Standard Chartered Bank (Hong Kong) Ltd., UBS AG Hong Kong Branch, United Overseas Bank Ltd. Hong Kong Branch and Westpac Banking Corp. are the dealers.

Law Debenture Trust Corp. plc is the trustee.

Proceeds will be used to refinance existing borrowings, to finance acquisitions and investments and for working capital and general corporate purposes.

MTR operates Hong Kong’s Mass Transit Railway (MTR) metro system.

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