| FOR IMMEDIATE RELEASE | 3rd November 2004 |
Swire Pacific Limited ("Swire") has completed a HK$1.5 billion multi-tranche Medium Term Note Issue from its US$1.5 billion Medium Term Note Programme. The issuer, Swire Pacific MTN Financing Limited, is a wholly owned subsidiary of Swire.
The Notes have been rated "A-" by Fitch Ratings Limited, "A3" by Moody's Investors Service Limited, and "BBB+" by Standard & Poor's Ratings Group. Swire intends to use the net proceeds from the offering primarily for general working capital.
Details of the three tranches are outlined below:
| Issue Amount | Maturity | Type | Coupon |
| HK$700 million | 5/11/2007 | Fixed Rate Notes | 2.75% |
| HK$600 million | 5/11/2009 | Floating Rate Notes | 3-month Hibor+0.25% |
| HK$200 million | 7/11/2011 | Fixed Rate Notes | 4.00% |
The Hongkong and Shanghai Banking Corporation Limited acted as Bookrunner and Lead Manager for the issue. Mitsubishi Securities (HK), Limited and Banca di Roma S.p.A Hong Kong Branch acted as Co-Lead Managers for the five year HK$600 million Floating Rate Note issue.
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