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The Hong Kong Mortgage Corporation Limited

Bauhinia ILBS 1

Bauhinia ILBS 1 Limited acquired a diversified portfolio of project and infrastructure loans across multiple geographies and sectors from the HKMC for an aggregate purchase consideration of US$404.8 million. The Portfolio is diversified across 25 projects among 9 sub-sectors as at the date of the Information Memorandum. The projects underlying the Portfolio are located in 12 countries across the Asia-Pacific, Middle East and the South America regions. The Portfolio has been assembled with a focus on availability-based infrastructure assets in the conventional power and water and social subsectors.

 

Formal Notice icon

Formal
Notice
 

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Information
Memorandum

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Second
Party Opinion 

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Update to Second

Party Opinion

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download Sept 2023 report

Impact
Report
 

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Quarterly and Payment Date Reports

download Sept 2023 report

Sep 2023 

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download Dec 2023 report

Dec 2023 

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download Mar 2024 report

Mar 2024 

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download Jun 2024 report

Jun 2024 

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download Jun 2024 report

Sep 2024 

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download Jun 2024 report

Dec 2024 

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Audited Financial Statements

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FY 2023 

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Moody's Rating Reports

download Sept 2023 report

May 2023
New Issue Report
  

download Dec 2023 report

May 2023

Rating Action 

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download Mar 2024 report

Mar 2024

 Announcement 

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download Jun 2024 report

Apr 2024

Rating Action 

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download Jun 2024 report

Jan 2025

 Announcement 

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download Jun 2024 report

Mar 2025

Rating Action 

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Indicative Capital Structure

 

ClassRating (Moody's)1Principal Amount (USD million)Spread2Legal Maturity Date
A1-SUAaa (sf)100.001.60%19 October 2044
A1Aaa (sf)199.601.70%19 October 2044
BAa1 (sf)36.502.50%19 October 2044
CA2 (sf)18.253.95%19 October 2044
DBaa3 (sf)10.005.95%19 October 2044
Subordinated NotesNot rated40.436.00%19 October 2044

 

1 Original rating at date of closing.

2 Spread is applied over 6-month Term SOFR

Portfolio Overview

portfolio overview chart

Documents

Mar 04
Moody's Ratings Action on Class D Notes
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Feb 24
Second Party Opinion - Updated Eligibility Assessment
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Jan 21
Moody's Assessment Announcement
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Jan 17
Dec 2024 Quarterly Report
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Sponsor and Collateral Manager 
HKMC logo

  

Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers
INGMUFGstandard chartered

 

Co-Manager
Fubon

  

Transaction Administrator, Trustee, Account Bank, Calculation Agent, Principal Paying Agent, Registrar and Transfer Agent
Legal advisers
deutsche bankLinklatersClifford Chance

 

Sustainable Finance
Opinion Provider
Pre-issuance Sustainability
Impact Advisor
Rating Agency
dnvcarbon trust
Moody's Investors
Service Ltd

 

Corporate Services Provider
CSC

Last Update Date: 04/03/2025