HSBC Closes Floating Rate Notes Issue

19 May 2011
For immediate release

HSBC Closes Floating Rate Notes Issue

HSBC New Zealand branch (rated AA/Aa1/AA*) has today announced that its five year Wholesale Floating Rate Notes issue due May 2016 closed over subscribed. The transaction was launched as a capped issue of NZD$200 million at a margin of 125 basis points over BKBM. The deal was well received by investors with the final book exceeding NZD$300 million and 18 investors participating.

The Wholesale Issue for NZD $200 million was launched at 3.15pm on Wednesday 18 May and closed today (Thursday 19 May) at 11am.

Trevor Pye, Head of Global Markets, at HSBC New Zealand says: “HSBC will use the Issue for general corporate purposes, including funding the local operation. We are delighted that our first Floating Rate Notes Issue since 2008 has been oversubscribed.”

Joint Lead Managers on the deal were HSBC, ANZ National and BNZ.

ENDS

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