Hong Kong's Yuexiu Property establishes $2 billion note program

By Angela McDaniels

Tacoma, Wash., Jan. 10 - Yuexiu Property Co. Ltd. has established a $2 billion medium-term note program, according to a company news release.

Bank of China (Hong Kong) Ltd., BOCI Asia Ltd., DBS Bank Ltd., Hongkong and Shanghai Banking Corp. Ltd. and Morgan Stanley & Co. International plc are the arrangers and dealers.

The company expects the program to be rated Baa3 by Moody's and BBB- by Fitch.

Proceeds will be used for general corporate purposes.

The issuer is a property developer based in Hong Kong.

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