Hong Kong’s MTR ups debt issuance program to $10 billion

By William Gullotti

Buffalo, N.Y., Nov. 1 – MTR Corp. Ltd. and subsidiary MTR Corp. (C.I.) Ltd. listed a new $10 billion debt issuance program, according to a notice with an appended offering circular on Wednesday.

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

HSBC continues to be the sole 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, SMBC Nikko Securities (Hong Kong) Ltd., 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.

Slaughter and May and Maples and Calder (Hong Kong) LLP are counsel to MTR, with Linklaters advising the dealers.

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

Effective Oct. 31, MTR’s expanded 12-month program is the latest increase and renewal of the program, first established in 1993.

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

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