MTR Corporation Limited on its inaugural euro-denominated public green bond totalling EUR3bn

Saughter and May advised MTR Corporation Limited (MTR) on its issuance of EUR3 billion multi-tranche fixed rate green notes (the Notes) under its US$25bn Debt Issuance Programme. The Notes are dually listed on the Hong Kong Stock Exchange and the Luxembourg Stock Exchange.

This transaction marks MTR’s inaugural euro-denominated public green bond issuance and largest bond deal to date, as well as the largest Asia (ex-Japan) non-sovereign euro-denominated green bond offering. The Notes were issued in three tranches of EUR1bn each, with maturities of 8, 12 and 20 years respectively. The 20-year tranche represents the first-ever Asia (ex-Japan) non-sovereign euro-denominated bond at this tenor. Proceeds from the issuance will be applied towards eligible green investments in accordance with MTR’s Sustainable Finance Framework. 

BNP PARIBAS, Crédit Agricole CIB, Deutsche Bank, HSBC, J.P. Morgan and Société Générale acted as the Joint Global Coordinators, Joint Lead Managers and Joint Bookrunners for the issuance of the Notes, with Bank of China (Hong Kong), Barclays, BofA Securities, Citigroup, ICBC (Asia), Morgan Stanley, Standard Chartered Bank and UBS being the Joint Lead Managers.