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Henderson Land Development Company Limited
HK$18 Billion 5-Year Term Loan/Revolving Credit Facility

(30th March 2015, Hong Kong) Henderson Land Development Company Limited (“Henderson Land” or the “Company” (stock code: 12.HK)), one of the leading property companies in Hong Kong, announced that it signed a HK$18 billion 5-year term and revolving credit facility with 22 international and local banks, 9 of which acted as mandated lead arrangers and bookrunners.

The transaction is split evenly between the term loan tranche and the revolving credit tranche, and the borrowing entity is Henderson Land Credit (2015) Limited. It was overwhelmingly received by the banking community, achieving a total of HK$18 billion, which is 3 times the Company’s initial target size of HK$6 billion. This is the largest syndicated loan ever concluded by Henderson Land. The margin for participating banks was fixed at 108bp for a tenor of 5 years. This unsecured facility refinances a 5-year HK$13.25 billion syndicated loan signed in June 2010.

This landmark transaction gives a strong vote of confidence and endorsement in Henderson Land’s outstanding results and prospects by its relationship banks. By concluding favourable loan pricing and obtaining a flexible structure to include a revolving credit limit to cater for its refinancing needs, this loan transaction further enhances Henderson Land’s capital structure while at the same time giving an impetus to the Hong Kong loan market at the beginning of 2015.

The 22 banks are enlisted as follows:

Joining as Mandated Lead Arrangers and Bookrunners –
Bank of China (Hong Kong) Limited
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Mizuho Bank, Ltd.
Bank of Communications Co., Ltd. Hong Kong Branch
The Hongkong and Shanghai Banking Corporation Limited
National Bank of Abu Dhabi PJSC, Hong Kong Branch
BNP Paribas Hong Kong Branch
Oversea-Chinese Banking Corporation Limited Hong Kong Branch
Sumitomo Mitsui Banking Corporation

Joining as Mandated Lead Arranger –
United Overseas Bank Limited
Joining as Lead Arrangers -
Bank of America, N.A.
Bank of East Asia
China Construction Bank (Asia) Corporation Limited
Crédit Agricole Corporate and Investment Bank
DBS Bank Ltd
Hang Seng Bank Limited
Industrial and Commercial Bank of China (Asia) Limited
ING Bank N.V.
Joining as Managers -
China Merchants Bank Co., Ltd., Hong Kong Branch
Standard Chartered Bank (Hong Kong) Limited
Sumitomo Mitsui Trust Bank, Limited, Hong Kong Branch
Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch

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