FINWIRES · TerminalLIVE
FINWIRES

HSBC Plans $1.5 Billion Perpetual Contingent Convertible Securities Issue

By

HSBC (HKG:0005) plans to issue $1.5 billion of 6.75% perpetual subordinated contingent convertible securities due in 2033, according to a Tuesday Hong Kong bourse filing.

The securities are expected to be issued on May 18 and listed on Euronext Dublin's Global Exchange Market, the filing said.

Net proceeds are expected to be about $1.49 billion after commissions, with funds to be used for general corporate purposes and to maintain or further strengthen its capital base.

The securities will carry an initial interest rate of 6.75% per annum until May 2033, after which the rate will reset every five years.

Related Articles

Asia

Poly Developments' Contracted Sales Rise 5% in April

Poly Developments and Holdings' (SHA:600048) contracted sales rose 5.3% year on year to 25.9 billion yuan in April, according to a Tuesday disclosure on the Shanghai bourse.The real estate company's contracted area dropped 7.9% year on year to 1.1 million square meters.

$SHA:600048
Asia

OxPay Financial Boosts Investment in Subsidiary; Shares Surge 9%

OxPay Financial (SGX:TVV) increased investment in its subsidiary, Oxygen7, through the subscription of 349,000 shares at $1 per share, according to a Monday filing with the Singapore Exchange.Shares of the financial services company surged nearly 9% in Tuesday trading.The $350,000 investment in the unit is not expected to impact the company's earnings for 2026, the filing said.

$SGX:TVV
Asia

Dabeinong Tech's Pig Sales Revenue Slips 5% in April

Beijing Dabeinong Technology's (SHE:002385) revenue from pig sales for April slipped 4.9% to 427 million yuan from a year earlier, according to a Shenzhen bourse filing on Tuesday.Sales volume jumped 54% year on year to 382,100 commercial fattened pigs, with average selling price set at 9 yuan per kilogram.Between January and April, the agricultural biotechnology company earned sales revenue worth 1.92 billion yuan after selling around 1.5 million commercial fattened pigs.

$SHE:002385