By Andrea Heisinger
New York, May 17 - HSBC Bank plc sold $3 billion of notes (Aa2/AA/) in two parts on Tuesday as a floating-rate tranche was added, said a source away from the trade.
The $1.5 billion tranche of two-year floaters sold at par to yield three-month Libor plus 43 basis points.
Originally, the sale consisted of a five-year maturity. That $1.5 billion tranche of 3.1% five-year notes sold at 99.963 to yield 3.108%, or Treasuries plus 133 bps.
Both tranches are non-callable and priced under Rule 144A.
HSBC Securities ran the books.
The financial services company is based in London.
| Issuer: | HSBC Bank plc
|
| Issue: | Notes
|
| Amount: | $3 billion
|
| Bookrunner: | HSBC Securities
|
| Distribution: | Rule 144A
|
| Trade date: | May 17
|
| Settlement date: | May 24
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
|
|
| Two-year floaters
|
| Amount: | $1.5 billion
|
| Maturity: | May 15, 2013
|
| Coupon: | Three-month Libor plus 43 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 43 bps
|
| Call: | Non-callable
|
|
|
| Five-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | May 24, 2016
|
| Coupon: | 3.1%
|
| Price: | 99.963
|
| Yield: | 3.108%
|
| Spread: | Treasuries plus 133 bps
|
| Call: | Non-callable
|
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