Singapore-listed Hutchison Port Holdings Trust (HPH Trust) is looking to raise up to USD 500 million through its issued notes due 2022, HPH’s trustee-manager informed.
The five-year notes will carry a coupon of 2.75% per annum, payable semi-annually in arrear on September 11 and March 11 in each year. The maturity date for the notes is September 11, 2022.
The trustee-manager intends to use the net proceeds from the issuance of the notes to refinance debt and for general corporate purposes, including the funding of capital expenditures.
Approval in-principle has been received from Singapore Exchange Securities Trading Limited for the listing and quotation of the notes on the SGX-ST.
The Hongkong and Shanghai Banking Corporation Limited, Merrill Lynch Far East Limited and Mizuho Securities Asia Limited have been appointed as the joint bookrunners and the joint lead managers for the issuance of the notes.