HSBC’s S$675m tier two feeds hungry investors after AT1 call
![06.02.2019, Singapore, Republic of Singapore, Asia - A view of the HSBC banking building in the business district. To the left of it you can see a part of the Fullerton Hotel. [automated translation]](https://assets.euromoneydigital.com/dims4/default/eefb63a/2147483647/strip/true/crop/4256x2832+0+0/resize/840x559!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2Fe6%2Ff7%2F61cd2ddc44dd8ce259b3365b1d98%2F2b759cn.jpg)
◆ Deal precedes redemption of AT1 and exacerbates shortage of paper in the currency ◆ Issuer locks in ‘very good’ arb ◆ HSBC’s third trade this week follows sterling covered and senior bonds
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