15th Sep 2020 09:38
(Alliance News) - HSBC Holdings PLC on Thursday said it has launched tender offers to repurchase six separate tranches of notes worth USD7.12 billion in total.
The FTSE 100-listed bank offered to buy-back USD2.5 billion worth of 2.950% senior unsecured notes due May 2021, USD1 billion of floating rate senior unsecured notes due May 2021, USD2 billion of 4.000% senior unsecured notes due March 2022, USD1.03 billion 3.400% senior unsecured notes due March 2021, USD907.2 million 5.100% senior unsecured notes due April 2021, and USD707.8 million floating rate senior unsecured notes due March 2021.
The purpose of the tender offers is to improve the company's liabilities structure, HSBC said, adding that each offer will expire on September 2022 unless extended or earlier terminated by the company.
HSBC shares were trading 0.3% lower at 321.45 pence each on Tuesday morning in London.
By Ife Taiwo; [email protected]
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