CLP Power renews $4.5 billion medium-term note program

By William Gullotti

Buffalo, N.Y., March 25 – CLP Power Hong Kong Financing Ltd. updated and relisted its $4.5 billion medium-term note program on the Stock Exchange of Hong Kong Ltd., according to a notice with an appended circular on Monday.

Notes sold under the multicurrency program will be guaranteed by parent company CLP Power Hong Kong Ltd.

HSBC Ltd. remains the sole arranger of the program, also acting as dealer along with ANZ Banking Group Ltd., Bank of China (Hong Kong) Ltd., Barclays Bank plc, Citigroup Global Markets Ltd., Credit Agricole CIB, Deutsche Bank AG Hong Kong Branch, J.P. Morgan Securities (Asia Pacific) Ltd., Merrill Lynch (Asia Pacific) Ltd., Mizuho Securities Asia Ltd., Morgan Stanley & Co. International plc, MUFG Securities EMEA plc, Oversea-Chinese Banking Corp., Ltd., Standard Chartered Bank (Hong Kong) Ltd. and UBS AG Hong Kong Branch.

DB Trustees (Hong Kong) Ltd. is the trustee.

King & Wood Mallesons is counsel to the guarantor for English and Hong Kong law with Harney Westwood & Riegels LLP as counsel to the issuer in the British Virgin Islands. Linklaters is counsel to the dealers and trustee for English and Hong Kong law.

The updated 12-month Regulation S and Rule 144A program took effect March 22.

The Hong Kong-based electric company has had multiple previous one-year $4.5 billion MTN programs.

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