HSBC Initiates Three-Tranche Dollar Senior Bond Sale to Fund Up to $5 Billion Buyback
Deep News
Aug 05
HSBC Holdings PLC launched a three-part senior dollar bond offering on Wednesday, aimed at funding its planned repurchase of up to $5 billion in outstanding notes maturing in 2028.
According to the term sheet, the issuance includes two tranches of fixed-to-floating rate senior notes—one maturing in 2032 and another in 2037—along with a floating-rate senior note also due in 2032. The bank's initial price guidance indicates the 2032 notes are priced at approximately 115 basis points above comparable U.S. Treasury yields, while the 2037 notes are set at about 135 basis points above the same benchmark.
The transaction is expected to close on August 14, with HSBC Holdings PLC acting as the sole bookrunner for the deal.
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