Bonds
Five-year HSBC bond issue raises $200 mln, priced at 90 basis points over the bank bill rate
4th Dec 13, 2:20pm
by
HSBC NZ has raised $200 million in a five-year bond issue.
The bank says the wholesale floating rate notes were issued at 90 basis points over the bank bill rate (BKBM). The capped offer both opened and closed yesterday (Tuesday) with about 15 investors participating.
"We are pleased at the very positive response from investors to HSBC New Zealand Branch's first senior issue since 2011," said Gerard Field, HSBC NZ's head of global markets, financial institutions and government.
Joint Lead Managers were HSBC itself, ANZ and BNZ.
In 2011 HSBC also raised $200 million in a capped five-year floating rate note issue to 18 investors. The 2011 notes were issued at a 125 basis points margin over the bank bill rate.
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