HSBC Completes $1.5 Billion New Issue Condition for Contingent Convertible Securities Tender Offer
HSBC Holdings plc has successfully closed a $1.5 billion offering of 7.625% Perpetual Subordinated Contingent Convertible Securities. This successful issuance satisfies the 'New Issue Condition' required to proceed with its tender offer to repurchase up to $1.5 billion of its outstanding 6.000% Perpetual Subordinated Contingent Convertible Securities. The company is executing this tender offer as a proactive measure to manage its Tier 1 capital base. The securities being repurchased will be cancelled and retired upon settlement. The tender offer is scheduled to expire on November 19, 2026, with an expected settlement date of November 24, 2026.
Tickers: $HSBC
Topics: bond offering capital restructuring contingent convertible securities tender offer