Appleby Hong Kong advises on issue of USD 300m Notes for Swire Pacific MTN Financing Limited

24 August2017


Appleby Hong Kong acted as Cayman Islands counsel to Swire Pacific Limited (Swire Pacific) on the issue by its subsidiary, Swire Pacific MTN Financing Limited, of USD 300 million 3 percent Guaranteed Notes. The Notes, which are due in 2024 and are listed on the Hong Kong Stock Exchange, were issued under Swire Pacific MTN Financing’s USD 5 billion Medium Term Note Programme and are guaranteed by Swire Pacific.

Swire Pacific is a leading public company in Hong Kong holding the Swire Group’s key businesses in Asia, and is organized into five core business divisions: Property, Aviation, Beverages, Marine Services and Trading and Industrial. Through these divisions, Swire Pacific operates a number of significant and diverse business entities including Swire Properties, Swire Hotels, the Cathay Pacific Group, the Swire Retail Group and 11 Coca Cola production facilities.

The Appleby team was led by Partner, Nicholas Davies, working alongside Slaughter & May as the issuer and guarantor’s English and Hong Kong law counsel. The joint lead managers, HSBC and Morgan Stanley, were advised by Allen & Overy.

Nicholas commented: “It was a great pleasure to work with the Swire Pacific team and Slaughter & May on this significant issue. As a global offshore law firm, we understand the importance of utilising our knowledge across our key locations to deliver the best possible outcome for our clients. In this case, the full service operation we offer in Hong Kong, alongside the significant offshore and onshore debt capital markets experience of our Hong Kong-based Debt Capital Markets team, allowed us to do this”.

Appleby Hong Kong runs the Asia-focussed operations for Appleby, advising on all aspects of corporate, finance and commercial offshore law and dispute resolution, with a particular focus on the laws of Bermuda, the British Virgin Islands and the Cayman Islands. The Hong Kong office also facilitates Asia-time zone advice on the laws of Mauritius, Seychelles, Jersey, Guernsey and the Isle of Man, with lawyers fluent in English, Japanese, Cantonese, Putonghua and other Chinese dialects.


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