| For immediate release | 27th April, 2001 |
Swire Pacific Limited ("Swire") signed today a US$1,500 Million Medium Term Note Programme which will permit Swire and its wholly-owned subsidiary, Swire Properties, to tap the international bond markets for its general funding needs. The Programme has been arranged by HSBC and Morgan Stanley, who will also act as Dealers on the Programme. A further nine international financial institutions have also been appointed as Dealers on the Programme, namely: ABN AMRO, Barclays Capital, BNP Paribas, Commonwealth Bank of Australia, Goldman Sachs International, JP Morgan, Standard Chartered Bank, Salomon Smith Barney and USB Warburg. The Programme is rated "A3" by Moody's and "A-" by Standard & Poor's, and application has been made to list the Programme on The Stock Exchange of Hong Kong Limited and the Luxembourg Stock Exchange. The Programme will permit Swire and Swire Properties to issue debt securities denominated in various currencies, with a number of different interest rate structures and maturities, as agreed with the Dealers from time to time. Martin Cubbon, Finance Director of Swire said: "The new MTN programme will enable us to take advantage of competitive funding opportunities in various markets around the world and support our general funding and future investment needs on a very cost-effective basis."
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