25th May 2016 06:15
LONDON (Alliance News) - HSBC Holdings PLC on Wednesday said it will issue USD2.0 billion in contingent convertible securities, so-call CoCos.
The bank said it will issue 6.875% perpetual subordinated contingent convertible securities on June 1, callable in June 2021 and every five years thereafter.
HSBC said it intends to use the proceeds for general corporate purposes and to strengthen its capital base.
By Sam Unsted; [email protected]; @SamUAtAlliance
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