HSBC Sells $1.3B In Notes Amid UK Brightening Skies

Law360, New York (March 29, 2010, 3:30 PM EDT) -- HSBC Holdings PLC has told U.S. securities regulators it issued more than $1.34 billion worth of new subordinated debt, to be traded on Britain's financial markets, amid a report signaling increasing strength in the U.K.'s financial services sector.

London-based HSBC told the U.S. Securities and Exchange Commission that the 6 percent, 30-year notes, issued in British pounds, are to be listed on the London Stock Exchange.

A London-based spokesman for the bank said Monday that the issue was a normal part of the bank's capital-raising efforts....
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