HSBC returns with yet another TLAC tender

By Tyler Davies
15 Sep 2020

HSBC Holdings is issuing a new senior bond while offering to buy back some of its existing securities, less a month after completing a very similar liability management exercise in the dollar market.

The UK bank began marketing an eight year non-call seven senior bond on Tuesday morning. 

It said it was looking for a benchmark size for the SEC-registered trade, which carried initial price thoughts of 170bp-175bp area over US Treasuries. 

The proceeds from the deal will be ...

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