be unlawful prior to registration or qualification under the securities laws of any such .
HongresponsibilityKong Exchangesfor the contentsand Clearingof thisLimitedannouncement,and The Stockmake Exchangeno representationof Hong asKongto Limitedits accuracytake noor completenessreliance upon theandwholeexpresslyor anydisclaimpart of theanycontentsliability whatsoeverof this announcementfor any loss. howsoever arising from or in Thisto buyannouncementsecurities in heis forUnitedinformStatesionalor purposesin any otheronlyjurisdictionand notinanwhichoffersuchto selloffer,or thesolicitatjurisdictiontatiornsaleof anwouldffer
Thisterritoriesannouncementand possessions,is not for distribution,any state ofdirectlythe Uniteor indirectly,Statesin andor intothetheDistrictUnited ofStatesColumbia)(including. Thiits announcementsecurities in thedoesUnitednotStatesconstituteor anyor formothera partjurisdictionof an offerin whichto sellsuchor theoffer,solicitationsolicitationof anoroffersaletowouldbuy anybe unlawfulsecuritiespriorreferredto registrationto herein haveor qualificationnot been andunderwill nottheregistrationbesecuriti redlawsunderof theanyUsuch.S.exemptionS jurisdictioncurities Act. Thand mayregistranotionbedocumentreqofferedirementsor soldofinthetheU.UnitedS. SecuritiesStates,Actabsen. Aontainy offering of orsecuritiesan applicablewill be made by meansfrom theof anits managemeoffering Unitedand .financialSuch offeringstatementsdocument. No publicwill offeringdetailedof theinformationsecurities referredabout theto Companyherein willandbe
madewill theinDrawdownthe NotesS atesbe. NoneplacedoftotheanyDrawdownconnectedNotespersonswillofbetheofferCompanyd to the. public in Hong Kong nor
VOLUNTARY | T | |||||||
DRAWDOWN UNDER MED UMANNOUNCEMENTERM TE AND PERPETUAL | ||||||||
Stock Code: 494 | ||||||||
SECURITIES PROGRAMME | ||||||||
Reference is made to the announc ment of the Company on 20 September 2019 in relation to | ||||||||
the annual update of the Programme. | ||||||||
The B ard is pl ased to announce that on 26 September 2019, the Company has carried out | ||||||||
drawd wn under the Programme to offer and issue the Drawdown Notes in an | gregate | |||||||
nominal amount of | whi h are exempt from, and not subject to, the registration | |||||||
requirements underUSthe$400,000,000,. . Securities Act. | U.S. dollars, w ll have a aturity date of 4 October | |||||||
The Drawdown Notes are | ||||||||
2024 and will bear interest denominatedthe rate of interest described in their terms. | ||||||||
D AWDOWN UNDER THE MEDIUM TERM NOTE AND PERPETUAL SECURITIES | ||||||||
PROGRAMME BY THE COMPANY | ||||||||
The B ard is pleas d | announce that on 26 September 2019, the Comp y has c rried out | |||||||
drawdown under the Prtogramme to offer and issue the | Notes in an aggregate nominal | |||||||
amount of | which are | exempt from,Drawdownan not subject to, the registration | ||||||
requirementsUSunder$400,000,000,the . . Securities Act. | ||||||||
1 |
PRINCIPAL TERMS OF THE DRAWDOWN NOTES | |||||||||||||||
Issuer | Li & Fung Limited | ||||||||||||||
Joint Lead Managers | Citigroup Global Markets Limited, The Hongkong | nd | Shanghai | ||||||||||||
Issue Currency | Banking Corporation Limited, Mizuho Securities Asia Limited and | ||||||||||||||
U.S. dollars | |||||||||||||||
Issue Size | US$400,000,000 | ||||||||||||||
Issue Price | 99.561 per cent. of the Issue Size | ||||||||||||||
Rate of Interest | 4.375 per cent. per annum | ||||||||||||||
Pricing Date | 26 September 2019 | ||||||||||||||
Issue Date | 4 October 2019 | ||||||||||||||
Issu | r Optional | The Issuer may redeem the Notes in whole but not in part at any | |||||||||||||
Redemption | on giving not less than 30 nor more than 60 d ys' notice totimeth | ||||||||||||||
holders | at a | mption | price | equal | to the | principal | |||||||||
amount of the Notes redeeme | plus (i) an applicable premium, | ||||||||||||||
calculated as of the redemption date, equal to the then present value | |||||||||||||||
of all required remaining scheduled interest | ts due on such | ||||||||||||||
Notes o the maturity da e of the Notes, and paymen(ii) ccru d and unpaid | |||||||||||||||
interest, if any, to (but not including) the redemption date | |||||||||||||||
In | ddition, the Issuer may redeem the Notes | whole but not in part | |||||||||||||
at any time on or after 4 September 2024 | n giving not less than | 30 | |||||||||||||
nor | ore | than 60 days' notice | to the | holders of the | at | a | |||||||||
ption price equal to the | principal | amount | of NotesheNotes | ||||||||||||
redeemed | plus accrued and unpaid interest, if any, to (but not | ||||||||||||||
including) the redemption date | |||||||||||||||
The Company currently | intends to use the net p oceeds from the Drawdown Notes for | ||||||||||||||
refinancing long-term indebtedness and general corporate purposes. | |||||||||||||||
An application will be | by the Company to the S | Exchange Securities Trading | |||||||||||||
Limited (the SGX-ST) formadeth listing of and permission to d | al the Draw own Notes and such | ||||||||||||||
permission will be granted when the Drawdown Notes havingaporebeen admitted to the Official List of | |||||||||||||||
the SGX-ST, which is expected to be on or about 7 October 2019. | |||||||||||||||
DEFINITIONS | |||||||||||||||
In th | announcement, the following terms have the meanings set forth below unless the context | ||||||||||||||
requires otherwise: | the board of directors of the Company | ||||||||||||||
"Board" | |||||||||||||||
"Company" | Li & Fung Limited, whose shares are listed on the main board of the | ||||||||||||||
Stock Exchange of Hong Kong |
"Drawdown Notes" theofferedUS$and400,000,000to be issued4.375byperthecentCompany. notespursuantdue 4 Octobera drawdown2024 under the Programme
"Hong Kong" the Hong Kong Special Administrative Region of the PRC
"Programme" USestablished$2 billionbymediumthe Companyterm noteon and11 Octoberperpetual2016securities programme
"UAct".S. Securities U.S. Securities Act of 1933, as amended
"United States" the United States of America
"US$"U.S. dollar(s), the lawful currency of the United States ByWilliamOrderFUNGof theKwokBoardLun
Group Chairman, Li & Fung Limited
Hong Kong, 26 September 2019
AsKwokat Lunthe date(GrNonupof Chairman),this announcement,Spencer Theodorethe ExecutiveFungDirectors(Group Chiefof theExecutiveCompanyOfficer)are Williamand JosephFung CRobert. Phi; Compagnon;the -executivethe IndependentDirectors areNonVictor-executive DirKwokectorsKingare(HonoraryAllan WongChairman)Chi Yun,andMartinMarc Tang Yue Nien, Margaret Leung Ko May Yee, Chih Tin Ch ung and John G. Rice.
3
Attachments
- Original document
- Permalink
Disclaimer
Li & Fung Limited published this content on 27 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 September 2019 00:17:06 UTC