(Reporting by Scott Murdoch in Sydney and Sameer Manekar in
Bengaluru; Editing by Sherry Jacob-Phillips and Sonali Paul)
(Adds deal detail)
March 1 (Reuters) - HSBC Holdings said on Wednesday it raised $2 billion from a convertible
security issue, beating its own target on strong demand for the
perpetual additional Tier 1 bond.
In a filing to the Hong Kong Stock Exchange, HSBC said the
perpetual bond's coupon had been set at 8%.
Prospective investors had been told at the deal's launch on
Tuesday that initial price guidance for the coupon was 8.5%. The
final rates fluctuate based on demand from investors.
Reuters reported on Tuesday HSBC had aimed to raise up to
$1.5 billion in the transaction, but the final size was set
higher than its initial target.
HSBC said in a sale memo that it intends to use the cash
raised for refinancing some debt, general corporate purposes and
strengthening its capital base.
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