By Cristal Cody
Prospect News, Jan. 9 - HSBC Bank Canada (Aa2/AA-/DBRS: AA) sold C$1.25 billion of 2.938% seven-year deposit notes at par on Wednesday, a bond source said.
The notes due Jan. 14, 2020 priced at a spread of 122 basis points over the Government of Canada bond curve, or 128.6 bps over the government benchmark. The notes were launched at 123 bps, plus or minus 2 bps, over the bond curve.
HSBC Capital (Canada) Inc. was the bookrunner.
Vancouver, B.C.-based HSBC Bank Canada is a subsidiary of London-based banking and financial services company HSBC Holdings plc.
| Issuer: | HSBC Bank Canada
|
| Amount: | C$1.25 billion
|
| Maturity: | Jan. 14, 2020
|
| Securities: | Deposit notes
|
| Bookrunner: | HSBC Capital (Canada) Inc.
|
| Coupon: | 2.938%
|
| Price: | Par
|
| Yield: | 2.938%
|
| Spread: | 122 bps over Government of Canada bond curve
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 14
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
| Price talk: | 123 bps, plus or minus 2 bps
|
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