HONG KONG--HSBC Holdings PLC (0005.HK) raised a combined US$7 billion from a U.S. dollar-denominated bond offering in three tranches for general corporate purposes, according to a term sheet seen Wednesday by The Wall Street Journal. The bank, which is rated A1 by Moody's, A by Standard & Poor's and AA- by Fitch, sold US$1 billion of five-year U.S. dollar-denominated floating-rate bonds with a coupon of 224 basis points above the three-month U.S. dollar London InterBank Offered Rate (Libor), according to the term sheet. It also sold US$3 billion of five-year U.S. dollar-denominated fixed-rate bonds with a coupon of 3.40% and US$3 billion worth of ten-year U.S. dollar-denominated fixed-rate bonds with a coupon of 4.30%. HSBC itself was the sole bookrunner of the deal, according to the term sheet. Write to Carol Chan at carol.chan@wsj.com
HSBC Holdings has raised a combined $7bn from a US dollar-denominated bond offering in three tranches for general corporate uses, according to a term sheet.