HSBC launches TLAC tender and senior bond

By David Freitas
11 Aug 2020

HSBC Holdings has launched a tender offer for nine short-dated senior securities in dollars as it looks to optimise its liability structure for the total loss-absorbing capacity (TLAC) requirements. The announcement followed a dual-tranche senior deal in the same currency.

HSBC is offering to pay cash in exchange for five bonds maturing between March and May 2021, and four further bonds maturing between January and March 2022.

The tender offer covers a total nominal amount of $13.3bn.

The bank said the new transaction was designed to improve the ...

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