Company News - 18 September 2017

AMTD completes US$400mm 5yr bond offering for SHK & Co. Ltd

On August 31 2017, Sun Hung Kai & Co. Limited (“Sun Hung Kai & Co” or the “Company”, 86.HK) successfully priced its Reg S US$400mm 5-year senior bond offering(the "Transaction"), with AMTD acting as the Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager on the Transaction. Following the completion of US$360mm liability arrangement and new USD 5-year bond offering for the Company in May 2016, AMTD once again assisted the Company to complete another successful offering under its US$2bn Medium Term Note (MTN) Program. AMTD further demonstrates the leadership and execution capability in the international debt capital markets in this Transaction.

The issuer of the Transaction is Sun Hung Kai & Co. (BVI) Limited, a wholly-owned subsidiary of Sun Hung Kai & Co. Limited, with the Company providing a full guarantee. Both the issuer and the Company are unrated. The Transaction represents one of the few recent unrated 5-year USD bond offerings by Hong Kong issuers.

AMTD acted as the Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager of the Transaction and assisted the return of the Company to the international capital markets for over a year. Final orderbook was over US$1.2bn or oversubscribed by 3 times, allowing the Company to tighten final pricing to 4.65% from the initial pricing guidance of 4.85% area. Other syndicate banks of the Transaction comprised of BOCHK, Standard Chartered Bank, UBS and Sun Hung Kai Financial.

Following the completion of US$360mm liability arrangement and new USD 5-year bond offering for the Company in May 2016, AMTD once again assisted the Company to complete another successful offering under its US$2bn Medium Term Note (MTN) Program. AMTD team has been serving for Sun Hung Kai & Co. for years and is dedicated to providing professional investment banking services for the Company, including the completion of various transactions in equity and debt capital markets as well as merger and acquisitions. This is also an excellent illustration on how AMTD grow together with our clients by providing total solutions to them, and establish a win-win relationship.

The Transaction represents the 44th offshore bond offering completed by AMTD in the past 18 months and the 24th deal this year, demonstrating AMTD’s influence and strong execution capability in the international debt capital markets. AMTD has maintained a long term relationship with various bond issuers and has actively advised issuers to tap the most constructive window in the international debt capital markets. In addition to working with Sun Hung Kai & Co., AMTD has repeatedly served multiple Hong Kong blue chip enterprises for their USD bond issuances, including Regal Hotels (78.HK), Far East Consortium International Limited (35.HK) and Emperor International Holdings (163.HK).

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