| FOR IMMEDIATE RELEASE | 24th October 2007 |
Swire Pacific Limited is pleased to announce that its wholly-owned subsidiary Swire Finance Limited has entered into an agreement today with 15 banks in relation to a HKD10,000 million term loan / revolving credit facility (the "Facility"), which is guaranteed by Swire Pacific Limited (the "Guarantor"). The Facility is well received by the market and is oversubscribed at both the underwriting and general syndication stages.
The Facility is jointly offered by 15 reputable banks namely, Bank of China (Hong Kong) Limited, CALYON, HSBC, Standard Chartered Bank (Hong Kong) Limited, Sumitomo Mitsui Banking Corporation, The Bank of Nova Scotia Asia Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Industrial and Commercial Bank of China (Asia) Limited, Mizuho Corporate Bank, Ltd., Natixis, Hong Kong Branch, Agricultural Bank of China (Hong Kong Branch), DBS Bank Ltd, Chong Hing Bank Limited, BBVA Hong Kong Branch and Tai Fung Bank Limited.
This 5-year Facility is the largest ever syndicated loan raised by Swire Pacific Limited, and it carries a competitive interest rate of HIBOR plus 25 basis points. The proceeds of the Facility will be used for general corporate funding requirements of the Guarantor and its group companies including the refinancing of the existing outstanding indebtedness.
About Swire Pacific Limited:
Swire Pacific Limited is one of Hong Kong's leading listed companies, with diversified interests in five operating divisions: Property, Aviation, Beverages, Marine Services and Trading & Industrial. The company's operations are predominantly based in the Greater China region, where the Swire group has been established for over 130 years.
Corporate web-site: http://www.swirepacific.com.
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