Far East Horizon Ltd. updated its US$4 billion medium-term note program to include the option to offer and issue perpetual securities.

The company plans to use the net proceeds from each issue of the notes or perpetual securities under the updated program for the company's working capital and general corporate purposes, according to a May 31 release.

The company has appointed Standard Chartered Bank (Hong Kong) Ltd. and Hongkong and Shanghai Banking Corp. Ltd. as the joint arrangers for the updated program.