 |
Hong Kong Link 2004 Limited has been established
for the purpose of purchasing the Toll
Revenue Bond from HKSAR Government |
 |
|
In order to fund the purchase of the Toll Revenue
Bond, the Issuer will issue Notes,
to institutional investors, and Retail
Bonds, to retail investors, in a total amount not to exceed HK$6,000,000,000 |
|
|
Repayment of principal and payment of interest on
the Toll Revenue Bond will be made by HKSAR Government in amounts
equal to the Net
Toll Revenues generated by the Tolled
Facilities. |
|
|
Principal repayments and interest payments from
the Toll Revenue Bond will be used to make principal repayments and interest payments on the Notes and Retail Bonds |
|
|
In certain circumstances, HKSAR Government will
make Direct
Payments to the Issuer, in order for it to be able to meet the
required principal repayments and interest payments on the Notes and Retail Bonds |
|
|
The Trustee of the Retail Bonds and the Notes is HSBC Trustee (Hong Kong) Limited
and the Transaction Administrator is HSBC
|
|
|
The Notes and Retail Bonds are expected to have
credit ratings of AA- from Standard
and Poor's, Aa3 from Moody's
and AA+ from Fitch |
| |
|
| Hong Kong Link
2004 Limited - Transaction Structure |
|
| |
