By Wendy Van Sickle
Columbus, Ohio, Oct. 24 – MTR Corp. Ltd. priced its first green bond (expected ratings: Aaa1/AAA), a $600 million 2˝% 10-year green bond issued under the corporation’s $4 billion debt issuance program, at 99.675 to yield 2.537%, according to a Monday press release.
The bond was priced at the tight end of talk following strong demand from institutional investors and green investors in Hong Kong, Asia and Europe, according to the release.
HSBC, Bank of America Merrill Lynch and Goldman Sachs (Asia) LLC acted as the joint bookrunners and lead managers.
“As a low-carbon transport operator, we are pleased with the issuance of our first green bond, which is a milestone for both our financial and environmental strategies. Utilizing green finance in this way allows us to tap into a new investor base and provide cost effective financing to invest in environmentally friendly service and network enhancements as envisaged in the Rail Gen 2.0 vision.” Lincoln Leong, chief executive officer of MTR, said in the release.
The railway operator is based in Hong Kong.
| Issuer: | MTR Corp. Ltd.
|
| Issue: | Green bonds
|
| Amount: | $600 million
|
| Maturity: | November 2026
|
| Price: | 99.675
|
| Yield: | 2.537%
|
| Bookrunners: | HSBC, Bank of America Merrill Lynch and Goldman Sachs (Asia) LLC
|
| Coupon: | 2˝%
|
| Expected ratings: | Moody’s: Aa1
|
| S&P: AAA
|
| Announcement date: | Oct. 24
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
