HSBC Holdings PLC issued three series of international bonds totaling $6.0 billion, according to prospectuses filed May 11.
The issuance comprises three $2.0 billion tranches, one maturing May 18, 2021, and the other two maturing May 18, 2024.
The 2021 series carries a floating-rate coupon equivalent to the three-month U.S. dollar London interbank offered rate plus 60 basis points. The notes can be redeemed at HSBC's discretion May 18, 2020, at par value plus accrued and unpaid interest.
One of the 2024 series is a fixed- to floating-rate issuance, carrying a fixed coupon of 3.950% until 2023, when the coupon will reset to three-month U.S. dollar LIBOR plus 0.98723%. The other carries a floating-rate coupon of three-month U.S. dollar LIBOR plus 100 basis points.
Both series can be redeemed at par plus accrued and unpaid interest at HSBC's discretion May 18, 2023.
HSBC Securities (USA) Inc. served as sole book-running manager for all three series. Bankia SA, Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Danske Markets Inc., DZ Financial Markets LLC, ING Financial Markets LLC, Lloyds Securities Inc., Scotia Capital (USA) Inc., TD Securities (USA) LLC and Wells Fargo Securities LLC served as co-managers.