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HSBC Raises Maximum Tender Amount and Sub-Cap for Note Repurchase Offers

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HSBC (HKG:0005) has raised the maximum tender amount for its cash purchase of four series of outstanding notes from $5 billion to $6.75 billion.

The banking group increased the sub-cap for May 2028 Notes from $750 million to $1 billion, according to a bourse filing on Thursday.

The offers, which will expire on Aug. 12, are part of proactive debt portfolio management, with acceptance prioritized by series and subject to proration if limits are exceeded.

The company has already satisfied the new issue condition by pricing $6.75 billion in new senior unsecured notes, which will fund the repurchases.

The offers are restricted or subject to special conditions in the UK, Belgium, Italy, Hong Kong, Canada, and France.

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