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A&O advises on the HKSAR Government's multi-currency, digitally native, green notes issuance

Published Date
Feb 7, 2024
Allen & Overy has advised the Government of the Hong Kong Special Administrative Region of the People’s Republic of China (the HKSAR Government) on the issuance of multi-currency, digitally native, green notes. 

The four-currency, four-series transaction under the HKSAR Government’s HKD200 billion global medium term note programme comprises U.S.$200 million 4.625 per cent. digitally native notes due 2026, EUR80 million 3.500 per cent. digitally native notes due 2026, CNY1,500 million 2.90 per cent. digitally native notes due 2026, and HK$2,000 million 3.80 per cent. digitally native notes due 2026. The proceeds from the issuance will be used to finance and/or refinance eligible projects under the HKSAR Government’s Green Bond Framework.

The A&O team was led by partner Agnes Tsang in Hong Kong with support from Gordon NgHysan ChanErica Lo and Michael Leung.

Agnes Tsang commented: “We are delighted to have represented the HKSAR Government on another innovative transaction. This transaction demonstrates access by a broader range of investors can be achieved by the connectivity between the DLT platform and CMU. This will also be the first digitally native issuance to be listed on the Hong Kong Stock Exchange.”

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This announcement is not being made available in, and is not for release, publication or distribution, directly or indirectly, in whole or in part, in or into the United States of America, Canada, Australia or Japan or any other jurisdiction in which such distribution or dissemination would be prohibited by applicable law. This announcement is for informational purposes only and is not intended, and should not be construed, as an offer of, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the Securities Act”), or the laws of any state of the United States, and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with all applicable state laws. There will be no public offering of such securities in the United States.

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