HSBC Holdings PLC (HSBC) said Tuesday it plans to issue US$3 billion worth of perpetual subordinated contingent convertible securities at 6% and will use the net proceeds for general corporate purposes as well as to strengthen the bank's capital base.
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The London-based lender said the perpetual securities will be callable on May 22, 2027 and every five years thereafter.
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(END) Dow Jones Newswires
May 15, 2017 20:36 ET (00:36 GMT)