Deacons advises on two high profile debt issues

Deacons advises on two high profile debt issues :

Establishment of MTN Programme and Issuance of HK$1,707 million Fixed Rate Notes by Hong Kong Science and Technology Parks Corporation guaranteed by the Government of the Hong Kong S.A.R. of the PRC

Deacons recently advised the Hong Kong Science and Technology Parks Corporation on the establishment of its HK$1,707 million Guaranteed Medium Term Note Programme (the “Programme”) and the issue of HK$855,000,000 2.12% Guaranteed Notes due 2019 and HK$852,000,000 3.20% Guaranteed Notes due 2024 under the Programme (the “Notes”). The Notes are unconditionally and irrevocably guaranteed by the Government of the Hong Kong S.A.R. of the PRC. The Programme and the Notes are listed on The Stock Exchange of Hong Kong Limited. The proceeds will be used by Hong Kong Science and Technology Parks Corporation for financing the development of Phase 3 of the Hong Kong Science Park. This landmark transaction represents the debut of the Government of the Hong Kong S.A.R. of the PRC acting as a guarantor of debt securities.

Linklaters acted as Hong Kong counsel to the Arrangers and Dealers.

Deacons’ team on this transaction was led by Kevin Tong and supported by Christine Li and Icarus Yuen.

Issuance of RMB500,000,000 4.375% Credit Enhanced Bonds due 2017 by Soar Rise Limited guaranteed by China Aviation International Holding Co., Ltd.

Deacons also advised Soar Rise Limited on the issue of RMB500 million 4.375% Credit Enhanced Bonds due 2017 (the “Bonds”), which are unconditionally and irrevocably guaranteed by China Aviation International Holding Co., Ltd. The Bonds have the benefit of a keepwell deed entered into by AVIC International Leasing Co., Ltd. and an irrevocable standby letter of credit issued by Agricultural Bank of China Limited, Singapore Branch. The Bonds are listed on The Stock Exchange of Hong Kong Limited. AVIC International Leasing Co., Ltd. is currently the only state-owned financial leasing company in the PRC with an aviation industry background.

Linklaters acted as Hong Kong counsel to the Joint Lead Managers and the Trustee.

Deacons’ team on this transaction was led by Kevin Tong and supported by Christine Li and Icarus Yuen.

 

www.deacons.com.hk


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