Swire Pacific Limited


Swire Pacific Completes HK$1.5 Billion Multi-Tranche Medium Term Note Issue

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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Source: Swire Pacific Limited
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