Sun Hung Kai Properties (SHKP) has established a euro medium-term note programme enabling it to raise up to US$500 million.
The programme, arranged by United States-based investment bank Morgan Stanley, is the first of its kind by a listed Hong Kong company.
The facility has received a foreign currency rating of A3 from Moody's Investors Services and A from Standard & Poor's (S&P) - the same as Hong Kong's sovereign debt ceiling.
Morgan Stanley debt capital markets executive director Oliver Jory said: 'It is a type of facility that will allow Sun Hung Kai access to the eurobond market in the future as and when they choose.' The notes could be in any major currency - including Hong Kong dollars - and carry maturities of 30 days to 30 years.
Mr Jory said the programme had been prompted in part by the success of a similar programme by the unlisted Mass Transit Railway Corp.
'There has definitely been a call in the market for alternatives to the MTR programme,' he said.
