HSBC gives results of cash tender offers for nine series of notes

By Rebecca Melvin

New York, Aug. 19 – HSBC Holdings plc announced the results of its offers to purchase for cash any and all of nine series of notes, according to a 6-K filed Tuesday with the Securities and Exchange Commission.

The company is accepting the full amounts tendered for six series and none of the amounts tendered for three series.

The following amounts were accepted from among the offers dated Aug. 18, listed in order of acceptance priority level:

• $1,862,024,000 of $2.5 billion of 2.65% senior notes due January 2022 (Cusip: 404280BF5) for an aggregate consideration of $1,920,491,553.60, which excludes accrued interest;

• $483,425,000 of $900 million of 4.875% senior notes due January 2022 (Cusip: 404280AL3) for an aggregate consideration of $513,856,603.75 excluding accrued interest;

• None of the $1,034,040,000 tendered of $2 billion of 4% senior notes due March 2022 (Cusip: 404280AN9);

• $495,472,000 of $1.25 billion of floating-rate senior notes due January 2022 (Cusip: 404280BG3) for an aggregate consideration of $504,826,511.36;

• None of the $1,396,264,000 tendered of the $2.5 billion of 2.95% senior notes due May 2021 (Cusip: 404280AY5);

• $292,159,000 of $1 billion of floating-rate senior notes due March 2021 (Cusip: 404280AX7) for an aggregate consideration of $295,746,712.52;

• None of the $416,967,000 tendered of the $1 billion of floating-rate senior notes due May 2021 (Cusip: 404280AZ2);

• $132,217,000 of the $1,164,307,000 of 3.4% senior notes due March 2021 (Cusip: 404280AV1) for an aggregate consideration of $134,504,354.10 excluding accrued interest; and

• $125.15 million of $1,032,254,000 of 5.1% senior notes due April 2021 (Cusip: 404280AK5) for an aggregate consideration of $128,927,027.00 excluding accrued interest.

The offers expired at 5 p.m. ET on Aug. 18 after pricing was set earlier in the day.

Settlement is expected on Aug. 21.

Holders will also receive accrued interest from and including the last interest payment date to but excluding the settlement date.

The financing condition was satisfied with respect to the series of notes with an acceptance priority level of 1, 2, 4, 6, 8 and 9. Because the total available amount was insufficient to fund any and all of the notes, the series with acceptance priority 3, 5 or 7 are not being accepted for purchase. All notes accepted in the offers are being cancelled and retired and will no longer remain outstanding company obligations.

The dealer manager is HSBC Bank plc (+44 20 7992 6237, 212 525-5552, 888 HSBC-4LM, liability.management@hsbcib.com).

The information agent is Global Bondholder Services Corp. (866 470-4300, 212 430-3774).

The investment banking company is based in London.

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