HSBC Holdings Plc completed its first yen-denominated bond sale in three years, issuing ¥101 billion ($681 million) in Samurai bonds. The offering included three tranches: a ¥65.3 billion 4-year NC3, a ¥28.1 billion 6-year NC5, and a ¥7.6 billion 11-year NC10, priced at 70, 85, and 110 basis points over TONA mid-swaps with coupons ranging from 1.639% to 2.529%. This significant issuance marks HSBC's return to the Japanese debt market, diversifying its funding sources.
HSBC Holdings has successfully re-entered the Japanese debt market for the first time in three years, raising ¥101 billion ($681 million) through a Samurai bond issuance. This transaction diversifies the bank's funding profile by tapping into yen-based liquidity. The deal was structured across three tranches with varying maturities and risk profiles: a ¥65.3 billion 4-year non-call 3 priced at 70 basis points over TONA mid-swaps, a ¥28.1 billion 6-year non-call 5 at an 85 basis point spread, and a ¥7.6 billion 11-year non-call 10 at a 110 basis point spread. The corresponding coupons of 1.639%, 1.929%, and 2.529% reflect the current cost of capital for a global financial institution in the yen market and demonstrate HSBC's ability to secure significant, long-term funding at defined rates.
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