Hong Kong Train Operator MTR Corp Issues $3 Billion Bonds in 3 Tranches with 1) $500 Million 5-Year Note with 4.375% Coupon Priced at 4.458% Yield Maturity 1/4/2030, 2) $1 Billion 10-Year Note with 4.875% Coupon Priced at 4.888% Yield Maturity 1/4/2035 & 3) $1.5 Billion 30-Year Note with 5.25% Coupon Priced at 5.354% Yield Maturity 1/4/2055
27th March 2025 | Hong Kong
Hong Kong train operator MTR Corp has issued $3 billion bonds in 3 tranches with 1) $500 million 5-year note with 4.375% coupon priced at 4.458% yield maturity 1/4/2030, 2) $1 billion 10-year note with 4.875% coupon priced at 4.888% yield maturity 1/4/2035 & 3) $1.5 billion 30-year note with 5.25% coupon priced at 5.354% yield maturity 1/4/2055. MTR (26/3/25): “MTR Corporation (the “Corporation”) announces that it has successfully priced a USD 3 billion public senior notes (the “Notes”) offering on 25 March 2025 in a three-tranche transaction including a 5-year tranche of USD 500 million, a 10-year tranche of USD 1 billion, and a 30-year tranche of USD 1.5 billion. The Notes are issued in Regulation S format under the Corporation’s USD 15 billion Debt Issuance Programme. Being the Corporation’s largest public bond issuance thus far, the Notes garnered strong interest from both local and international institutional investors, including sovereign wealth funds, insurance companies, asset managers, banks, and securities firms. The strong investor demand resulted in a combined final orderbook of USD 13.4 billion, representing 4.47 times of total issue size, enabling the final issue price to be tightened by 27-35 basis points from the initial price guidance levels. Bond issuance continues to be one of the Corporation’s most regularly-used tools for working capital management. As the Corporation enters a new phase of railway investment and development, the issuance of the Notes is an important step in our funding strategy to enable future railway network expansion and contribute to the Corporation’s ongoing commitment to the timely replacement and upgrading of operating assets. Carrying a coupon rate of 4.375% per annum payable semi-annually with a maturity date of 1 April 2030, the 5-year tranche was priced at 99.632% face amount with an overall yield of 4.458%. Carrying a coupon rate of 4.875% per annum payable semi-annually with a maturity date of 1 April 2035, the 10-year tranche was priced at 99.898% face amount with an overall yield of 4.888%. Carrying a coupon rate of 5.250% per annum payable semi-annually with a maturity date of 1 April 2055, the 30-year tranche was priced at 98.456% face amount with an overall yield of 5.354%. The Notes are expected to be rated “AA+” by Standard & Poor’s and “Aa3” by Moody’s.”
“ Hong Kong Train Operator MTR Corp Issues $3 Billion Bonds in 3 Tranches with 1) $500 Million 5-Year Note with 4.375% Coupon Priced at 4.458% Yield Maturity 1/4/2030, 2) $1 Billion 10-Year Note with 4.875% Coupon Priced at 4.888% Yield Maturity 1/4/2035 & 3) $1.5 Billion 30-Year Note with 5.25% Coupon Priced at 5.354% Yield Maturity 1/4/2055 “
MTR Corporation – To Keep Cities Moving, MTR makes encounters happen and rendezvous for a more connected tomorrow. As a recognised world-class operator of sustainable rail transport services, we are a leader in safety, reliability, customer service and efficiency. MTR has extensive end-to-end railway expertise with over 45 years of railway projects experience from design to planning and construction through to commissioning, maintenance and operations. Going beyond railway delivery and operation, MTR also creates and manages dynamic communities around its network through seamless integration of rail, commercial and property development. With more than 50,000 dedicated staff, MTR carries over 10 million passenger journeys worldwide every weekday in Hong Kong, Mainland China, Australia, the United Kingdom and Sweden. Together, we Go Smart and Go Beyond.
Hong Kong Train Operator MTR Corp Issues $3 Billion Bonds in 3 Tranches with 1) $500 Million 5-Year Note with 4.375% Coupon Priced at 4.458% Yield Maturity 1/4/2030, 2) $1 Billion 10-Year Note with 4.875% Coupon Priced at 4.888% Yield Maturity 1/4/2035 & 3) $1.5 Billion 30-Year Note with 5.25% Coupon Priced at 5.354% Yield Maturity 1/4/2055
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