Swire plans to list note program

Swire Pacific Ltd has applied to the Hong Kong stock exchange for the listing of a $3.5 billion medium term note program, according to a statement to the exchange Friday. Swire Pacific MTN Financing Ltd and Swire Properties Offshore Financing Ltd are making the application and Swire Pacific is guaranteeing it.

Dalian Port eyes $556m IPO

Dalian Port, north China's largest port operator, expects to raise about 3.7 billion yuan ($556 million) from an initial public offering on the mainland, it said Friday in a draft prospectus.

The draft, posted on the website of the China Securities Regulatory Commission (CSRC), said Dalian Port plans to sell up to 1.2 billion shares in the IPO. It will sell up to 1.2 billion shares to its major shareholder PDA Corp in a share placement.

The CSRC will vet the IPO on October 18.

Citic Securities is the underwriter for the planned offering.

City on track for record loans

Hong Kong loans are on track for a record year as Chinese companies, facing financing restrictions at home, take advantage of lower funding costs in a market led by HSBC Holdings Plc, according to data released by Bloomberg Friday.

HSBC remained the top arranger of Hong Kong loans after the Central Government imposed a 7.5 trillion yuan ($1.1 trillion) annual limit on new lending by local banks this year in an effort to prevent asset bubbles. China faces increasing pressure to let its currency appreciate as global leaders say the yuan gives the world's fastest-growing major economy a trade advantage. A stronger yuan would make it cheaper for Chinese companies to service dollar debt.

Sihuan to sell up to 1.25b shares

Sihuan Pharmaceutical Holdings Group Ltd plans to sell up to 1.25 billion shares in a Hong Kong initial offering at HK$3.88 to HK$4.60 apiece, according to a statement to the Hong Kong stock exchange Friday.

Yunnan Tin to place shares

China Yunnan Tin Minerals Group Co plans to raise HK$38.95 million in a private placement of 400 million shares, according to a statement from the company to the Hong Kong exchange Friday.

The placement represents 7.13 percent of the company's existing share capital. China Yunnan Tin shares resumed trading Friday. It dropped 10.19 percent closing at HK$0.097.

HSBC gets new Asia Pacific CFO

The Asia unit of HSBC Holdings Plc said Friday it had appointed Sarah Legg as its new Chief Financial Officer, effective December 3,0 2010.

Legg succeeds Iain Mackay, who will transfer to London in December to become Group Finance Director, the lender said in a statement.

Legg is currently chief accounting officer for Asia Pacific, with responsibility for overseeing 2,000 finance staff across 22 countries and territories in the region.

Peter Wong, chief executive officer of HSBC Asia Pacific, said: "Sarah came to Asia when the region began to emerge as one of the world's fastest growing and most dynamic economic regions.

Bloomberg - Reuters

(HK Edition 10/16/2010 page2)