Modern Terminals establishes US$1 billion Medium Term Note Programme

HONG KONG's Modern Terminals Limited has established a US$1 billion Medium Term Note Programme with HSBC and Standard Chartered acting as joint arrangers.

Modern Terminals operates container ports in Hong Kong, Shenzhen and at Taicang on the Yangtze upstream from Shanghai.

The notes, including bearer and registered notes, will be issued in tranches over time.

The notes will be issued on a syndicated or non-syndicated basis in series with each series having one or more issue dates. Each series may be issued in tranches with each tranche with the same or different issue dates.

The clearing systems will be CMU Service, Clearstream, Luxembourg and Euroclear.

The Global Note representing bearer notes or exchangeable bearer notes or Global Certificates, representing registered notes, may be deposited with a common depositary for Euroclear and Clearstream, Luxembourg or deposited with a sub-custodian for the CMU Service.

In an earlier version of this story, a number of points were misunderstood and misstated. We apologise for the errors and any inconvenience they may have caused.