HSBC prints A$1.5 billion 10NC5 tier-two Kangaroo bond
- Wednesday, 05 March 2025
Issuer name: HSBC Holdings
Issuer rating: A-/A3/A+
Expected issue rating: BBB/Baa1
Pricing date: 5 March 2025
Settlement date: 11 March 2025
Lead managers: ANZ, Commonwealth Bank of Australia, HSBC, Mizuho, National Australia Bank, Westpac Institutional Bank
Transaction type: tier-two subordinated Kangaroo bond
Total volume: A$1.5 billion (US$937.3 million)
Maturity date: 11 March 2035
First call date: 11 March 2030
Fixed to FRN tranche
Volume: A$550 million
Coupon rate: 5.722%
Issue/re-offer price: par
Re-offer yield: 5.722%
Margin to swap: 187bp/s-q
FRN tranche
Volume: A$950 million
Coupon rate: 3m BBSW+187bp
Re-offer price: par
Margin: 187bp/3m BBSW
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