HSBC gave initial price guidance of about 115 basis points over U.S. Treasuries for the first 2032 tranche and 135 basis points for the 2037 notes. Image courtesy: Reuters/ Mohamed Abd El Ghany
HSBC is offering fixed-to-floating rate notes due in 2032 and 2037, as well as floating-rate notes due in 2032
Yantoultra Ngui | Reuters News
SINGAPORE: HSBC Holdings has launched a three-part U.S. dollar senior bond sale on Wednesday to help fund a planned buyback of up to $5 billion of its outstanding 2028 notes.
Here are some details:
* A term sheet showed HSBC is offering fixed-to-floating rate notes due in 2032 and 2037, as well as floating-rate notes due in 2032.
* The bank gave initial price guidance of about 115 basis points over U.S. Treasuries for the first 2032 tranche and 135 basis points for the 2037 notes.
* The deal is expected to settle on August 14.
* HSBC is the sole book-runner. (Reporting by Yantoultra Ngui; Editing by Rashmi Aich)
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