HSBC Singapore seeks to replace underlying rate for S$300 million floaters

By Wendy Van Sickle

Columbus, Ohio, Aug. 3 – Hongkong and Shanghai Banking Corp. Ltd., Singapore Branch is soliciting consents from holders of its S$300 million floating-rate notes due 2025 (ISIN: XS0538082982) issued in 2010, according to a notice.

The issuer is seeking approval to some amendments to replace the existing Singapore Dollar Swap Offer Rate interest basis with a compounded daily Singapore Overnight Rate Average interest basis.

The solicitation is being made by way of a resolution in writing.

The consent request letter has been delivered to Euroclear and Clearstream, Luxembourg for communication by them to their entitled accountholders.

The issuer is a wholly owned subsidiary of HSBC, the largest bank in Hong Kong, and operates branches and offices throughout the Indo-Pacific region and in other countries around the world.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.