HSBC to Issue US$2 Billion Perpetual Subordinated Contingent Convertible Securities
May 24 2016 - 8:17PM
Dow Jones News
By Joanne Chiu
HSBC Holdings Plc (0005.HK) plans to raise US$2.0 billion by
selling perpetual subordinated contingent convertible securities in
a bid to strengthen capital base.
The global banking giant said Wednesday that it will issue
perpetual subordinated contingent convertible securities to at
least six independent investors on June 1.
The convertible securities, which carry an annual interest of
6.874%, are callable in June 2021 and every five years thereafter,
it said.
Write to Joanne Chiu at joanne.chiu@wsj.com
(END) Dow Jones Newswires
May 24, 2016 20:02 ET (00:02 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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