HSBC has reportedly sold its part of a $ 100 m loan made to it three years ago at a 30 % markdown on face value , making a significant profit . This was after analysis from Bank of America suggested that " While Europe ’s lenders say that many of their loans are to business people who can ride out the slump , that still leaves $ 113bn in lending to minnows , wildcatters , and other junk - rated fish " .
HSBC has reportedly sold its part of a $500m loan made to Petroceltic three years ago at a 30% markdown on face value, making a significant loss. This comes after analysis from Bank of America suggested that "While Europe’s lenders say that many of their loans are to industry giants who can ride out the slump, that still leaves $113bn in lending to minnows, wildcatters, and other junk-rated companies".