Hong Kong’s AMTD gives minimum yields for new exchange securities

By Sarah Lizee

Olympia, Wash., April 28 – AMTD Group Co. Ltd. announced the minimum new issue yields of the securities to be issued in AMTD International Inc.’s exchange of its $123 million 7 5/8% senior perpetual securities.

The new U.S. dollar and Singapore dollar securities will bear minimum yields of 7¼% and 4½%, respectively, according to a press release.

The new securities will be issued under the company’s $1 billion medium-term note program, as previously reported.

The amount of new securities to be delivered in the exchange will be the product of the principal amount of existing securities and the relevant exchange ratio, subject to a minimum offer amount of $200,000.

The exchange offer will expire on May 6.

The company may also issue additional new securities under the program to be immediately fungible with the new securities issued in connection with the exchange offer.

The company expects to announce the new issue amount, price and distribution rate for each series of new securities on or around May 7.

The settlement date for the exchange offer is expected to be on or around May 14.

The financial institute is based in Hong Kong.

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