OREANDA-NEWS. July 18, 2011. CLP Power Hong Kong Limited (“CLP Power”) announces that its wholly-owned subsidiary CLP Power Hong Kong Financing Limited has priced USD300 million 4.750% Notes due 2021 (the “Notes”) under its USD3.5 billion Medium Term Note Programme. The Notes will be unconditionally and irrevocably guaranteed by CLP Power, rated A1 and A by Moody’s and Standard and Poor’s, respectively, and listed on the Hong Kong Stock Exchange, reported the press-centre of CLP Power.

The Notes have been priced at 170 basis points over the 10-year US Treasury Note with a yield of 4.836%. A coupon of 4.750% will be payable semi-annually in arrears. The Notes will be redeemed at par on 12 July 2021. The proceeds from the Notes will be used for general corporate purposes.

The transaction was nearly 9 times over-subscribed with more than USD2.65 billion in orders from global investors. The Joint Bookrunners are Deutsche Bank, HSBC, The Royal Bank of Scotland and Standard Chartered Bank (Hong Kong) Limited.

About CLP
CLP Power Hong Kong Limited (“CLP Power”) is the Hong Kong utility subsidiary wholly owned by CLP Holdings Limited, a company listed on the Hong Kong Stock Exchange and one of the largest investor-owned power businesses in Asia. CLP Power operates a vertically integrated electricity supply business in Hong Kong, and provides a highly reliable supply of electricity and excellent customer services to 5.7 million people in its supply area