28th May 2020 08:43
(Alliance News) - HSBC Holdings PLC on Thursday said it has launched tender offers to repurchase five separate tranches of notes worth USD10 billion in total.
The FTSE 100 bank offered to buy-back USD3 billion worth of 3.400% senior unsecured notes due 2021; USD2.5 billion of 5.100% senior unsecured notes due 2021; USD2.5 billion of 2.950% senior unsecured notes due 2021; and two USD1 billion sets of floating rate senior unsecured notes due 2021.
The purpose of the tender offers is to improve HSBC's liabilities structure, the lender said. The tender offers will expire on June 4, unless extended or earlier terminated by the company.
Shares in HSBC were trading 2.1% lower at 388.35 pence each in London on Thursday morning.
By Tapan Panchal; [email protected]
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