Hutchison Port Holdings Trust issues US$500 million notes due 2024

Port facilities in Hong KongPort facilities in Hong Kong

Hutchison Port Holdings’ indirect, wholly owned subsidiary HPHT Finance has issued US$500 million 2.875 percent guaranteed notes due 2024, the trust said in a filing to SGX Tuesday.

The notes were issued at 99.64 percent of their principal amount and in minimum denominations of US$200,000, with integral multiples of US$1,000, HPHT said.

The maturity date is 4 November 2024, HPHT said.

The net proceeds are earmarked to refinance some debt owed by HPHT subsidiaries, debt falling due in the near term and debt which could could provide an economic benefit if repaid early, the filing said. The trust added it could also use proceeds for general corporate purposes, including funding capital expenditure.

SGX has given approval-in-principle for the listing and quotation of the notes, with the listing expected on 6 November, HPHT said.

Bank of China (Hong Kong), BOCI Asia, Merrill Lynch (Asia Pacific) and HSBC have been appointed as the joint bookrunners and the joint lead managers, the filing said.

While you’re here, we’re hoping you can help us out.

Shenton Wire has been providing you with quick news and market analysis. But we need your support to continue to bring you the news you’ve come to expect and to expand our reach beyond Singapore.

Your monthly contribution will directly fund our journalism.

S$2     S$4       S$8

S$18       S$28       S$88


We also accept PayPal contributions



Check your existing account here and sign in to Shenton Wire here.

Contact us about other contribution levels or for corporate subscriptions and article syndication.