Hong Kong’s FWD Group launches new $5 billion debt issuance program

By William Gullotti

Buffalo, N.Y., April 3 – FWD Group Holdings Ltd. launched a new $5 billion global medium-term note and capital securities program, according to an offering circular on Monday.

The multicurrency program will be effective for the 12-month period following March 31.

The Regulation S program lists HSBC Ltd. as arranger, fiscal agent, paying agent, transfer agent, CMU lodging agent and registrar, with HSBC Bank USA, NA as the U.S. paying agent, transfer agent, exchange agent and registrar.

Program dealers were not included in the circular.

Linklaters and Walkers (Hong Kong) are legal advisors to FWD, with Clifford Chance acting as counsel for the dealers.

Hong Kong-based FWD is a life insurance business. The company was first known as Power Shine Ltd. and renamed PCGI Intermediate Holdings Ltd. in 2015. The current name of the group dates to Aug. 20, 2021.

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