Clifford Chance advises HKMC on record-breaking HK$25.3 billion multi-currency bond issuance

"Clifford Chance advised the Hong Kong Mortgage Corporation Limited (HKMC) on a record HK$25.3 billion (approx. US$3.3 billion) multi-currency public benchmark bond issuance comprising four tranches, including a landmark HK$2 billion 30-year social bond supporting a reverse mortgage programme. Proceeds of the shorter-dated tranches will meet general financing requirements."

Clifford Chance advised the Hong Kong Mortgage Corporation Limited (HKMC) on its record-breaking HK$25.3 billion multi-currency public benchmark bond issuance. The issuance comprised four tranches: HK$10 billion 2-year bonds, CNH 5 billion 3-year bonds, US$1 billion 5-year bonds, and a landmark HK$2 billion 30-year social bond. The aggregate size of HK$25.3 billion (approximately US$3.3 billion) represents HKMC's largest-ever public bond offering to date. The net proceeds of the 2-year, 3-year and 5-year tranches will be applied to general financing requirements. The 30-year tranche is the largest-ever 30-year Hong Kong dollar bond issued in Hong Kong and is the first social bond in the Asia Pacific region dedicated to supporting a reverse mortgage programme. Clifford Chance represented the Hong Kong Mortgage Corporation Limited (HKMC) with a team composed by: lead partner Mark Chan; senior associate George Mok; associate Christine Chan; and trainee solicitor Kristy Lam.

Clifford Chance advises HKMC on record-breaking HK$25.3 billion multi-currency bond issuance

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