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MTR CORPORATION (00066.HK) Issues Public Offshore RMB Green Bonds for 1st Time
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MTR CORPORATION (00066.HK) announced that it has successfully concluded its first public issuance of offshore Renminbi Green Bonds on 10 September. The CNH3 billion 10-year and CNH1.5 billion 30-year Bonds were issued under the Corporation’s Debt Issuance Programme and in accordance with the Corporation’s Sustainable Finance Framework. The 10-year tranche represents the largest 10-year public bond issuance of all the offshore Renminbi bonds of the same tenor by corporate issuers. The 30-year tranche is the longest tenor ever offered by a corporate issuer in the public offshore Renminbi bond market. The Bonds were well-received by local and overseas institutional investors including sovereign wealth funds, insurance, asset managers, banks, private banks, and securities firms, achieving a final combined orderbook in excess of CNH19.9 billion and 4.4 times over-subscribed, allowing the final issue price to be tightened by 35 bps from initial price guidance for both tranches. Carrying a coupon rate of 2.750% per annum payable semi-annually with a maturity date of 20 September 2034, the 10-year tranche was priced at 100% face amount with an overall yield of 2.750%. Carrying a coupon rate of 3.050% per annum payable semi-annually with a maturity date of 20 September 2054, the 30-year tranche was priced at 100% face amount with an overall yield of 3.050%. The Bonds are expected to be rated "AA+" by Standard & Poor's. Bank of China (Hong Kong), Credit Agricole CIB, HSBC, Mizuho and Standard Chartered Bank acted as the Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers for the Bonds Issuance, with ANZ, Barclays, BNP Paribas, DBS Bank Ltd, Deutsche Bank, ICBC (Asia), J.P. Morgan, MUFG, OCBC, SMBC Nikko and Societe Generale being appointed as Joint Bookrunners and Joint Lead Managers. AAStocks Financial News |
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