13th Nov 2020 08:58
(Alliance News) - HSBC Holdings PLC said Friday it has accepted the maximum EUR1.25 billion from its tender offer.
The Asian-focused lender noted it received EUR1.88 billion in tendered notes.
HSBC offered bondholders cash for its EUR2.00 billion 1.50% notes due March 2022, its EUR1.50 billion floating rate notes due September 2022, and its EUR1.50 billion floating rate notes due October 2023.
Following the tender offer, there remains EUR1.34 billion for its March 2022 notes, EUR930.9 million in its September 2022 notes, and EUR1.50 billion remains outstanding for its October 2023 notes.
Last Friday, HSBC explained that: "The offers are being made as part of the issuer's ongoing management of its liabilities, in this particular instance as the notes shall soon cease to qualify as eligible liabilities items under the CRD regulation once they have a residual maturity of less than 12 months. The issuer intends to continue issuing senior unsecured and subordinated liabilities in all major currency markets."
Shares in HSBC were down 0.8% in London on Friday morning at 369.70 pence each.
By Paul McGowan; [email protected]
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