6th Nov 2026 10:00
HSBC Holdings PLC - London-based, China-focused bank - Increases tender offer for CoCo securities to USD1.50 billion from USD1.00 billion. The offer, which was launched on Thursday, is for the bank's 6.00% perpetual subordinated contingent convertible securities, of which USD3.00 billion are outstanding. The CoCos are callable in May 2027 and every five years thereafter. The purchase price will be 100.50% of face, meaning HSBC will pay up to USD1.51 billion buying back the bonds. HSBC says the tender offer is to proactively manage its Tier 1 capital base.
Current stock price: 1,305.40 pence, down 0.2% in London on Friday
12-month change: up 20%
By Tom Waite, Alliance News editor
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