Swire Properties launches $5bn medium term note programme

Swire Properties (HKEX: 1972) has announced the establishment of a US$5 billion Medium Term Note Programme, managed by Swire Properties MTN Financing Limited. The programme will allow the issuance of notes in various currencies as agreed upon between the Issuer and relevant Dealers. The notes, payments of which will be unconditionally guaranteed by Swire Properties, are intended for purchase by professional investors only. The programme is rated A by Fitch and (P)A2 by Moody's for notes exceeding one year maturity. The net proceeds from each note issuance will be used to provide on-lending to the Guarantor and its subsidiaries, joint ventures and associated companies for general corporate purposes. Application has been made to the Hong Kong Stock Exchange for the listing of the Programme.