REG - HSBC Holdings PLC - HSBC tender offers - indicative results

HSBC HoldingsAnnouncement

23/09/2024 10:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240923:nRSW2343Fa&default-theme=true

RNS Number : 2343F  HSBC Holdings PLC  23 September 2024

 

 

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE
UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO
RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE
NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE
DISTRICT OF COLUMBIA) (THE 'UNITED STATES') OR IN OR INTO ANY OTHER
JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT.

23 September 2024

 

HSBC HOLDINGS PLC

ANNOUNCES INDICATIVE RESULTS OF TENDER OFFERS TO PURCHASE NOTES FOR CASH

 

HSBC Holdings plc (the 'Issuer') announces today the indicative results of its
invitations to holders of: (a) the EUR1,000,000,000 0.309% Fixed to Floating
Rate Notes due 2026 (ISIN: XS2251736646) (of which EUR1,000,000,000 is
currently outstanding) (the 'November 2026 Notes') and/or; (b) the
EUR1,250,000,000 2.50% Notes due March 2027 (ISIN: XS1379184473) (of which
EUR1,250,000,000 is currently outstanding) (the 'March 2027 Notes') (each a
'Series' and together, the 'Notes'), to tender such Notes for purchase by the
Issuer for cash subject to satisfaction or waiver of the New Financing
Condition (each such invitation an 'Offer' and, together, the 'Offers').

Capitalised terms used and not otherwise defined in this announcement have the
meanings given in the tender offer memorandum prepared by the Issuer dated 16
September 2024 (the 'Tender Offer Memorandum'). This announcement must be read
in conjunction with the Tender Offer Memorandum.

INDICATIVE RESULTS OF THE OFFERS

On 17 September 2024, the Issuer announced that the indicative Maximum
Acceptance Amount for the Offers had been set at approximately
EUR2,250,000,000.

The Expiration Deadline for the Offers was 4.00pm (London time) on 20
September 2024. As at the Expiration Deadline, EUR495,386,000 in aggregate
principal amount of the November 2026 Notes and EUR490,415,000 in aggregate
principal amount of the March 2027 Notes have been validly tendered pursuant
to the Offers.

The Issuer announces, on a non-binding and indicative basis only, that,
conditional upon the satisfaction or waiver of the New Financing Condition, it
expects to accept valid tenders of Notes pursuant to the Offers, with an
indicative Series Acceptance Amount for the November 2026 Notes equal to
EUR495,386,000 and an indicative Series Acceptance Amount for the March 2027
Notes equal to EUR490,415,000. All valid tenders of Notes pursuant to the
Offers are indicatively expected to be accepted and no pro-ration factor is
expected to be applicable.

The Issuer reserves the right, in its sole and absolute discretion, at any
time to amend or waive any of the terms and conditions of the Offers
(including the New Financing Condition) as set out in the Tender Offer
Memorandum. Subject to the satisfaction or waiver of the New Financing
Condition on or prior to 25 September 2024, the settlement of the Offers is
expected to take place on 25 September 2024.

The Pricing Time is expected to be at or around 11.00am (London time) today.
The Issuer expects to announce the final results of the Offers as soon as
reasonably practicable thereafter.

 

The Dealer Manager

HSBC Bank plc
8 Canada Square

London E14 5HQ

United Kingdom

Telephone: +44 (0) 20 7992 6237

Attention: Liability Management, DCM

Email: LM_EMEA@hsbc.com (mailto:LM_EMEA@hsbc.com)

The Tender Agent

Kroll Issuer Services Limited

The Shard

32 London Bridge Street

London SE1 9SG

Telephone: +44 (0) 20 7704 0880

Attention: Owen Morris

Email: hsbc@is.kroll.com (mailto:hsbc@is.kroll.com)

Tender Offer Website: https://deals.is.kroll.com/hsbc
(https://deals.is.kroll.com/hsbc)

 

 

DISCLAIMER

The offer period for the Offers has now expired. No further tenders of any
Notes may be made pursuant to the Offers. This announcement must be read in
conjunction with the Tender Offer Memorandum. No offer to acquire or exchange
any securities is being made pursuant to this announcement. This announcement
and the Tender Offer Memorandum contain important information, which must be
read carefully. If any Noteholder is in any doubt as to the action it should
take, it is recommended to seek its own financial, legal and any other advice,
including in respect of any tax financial, accounting, regulatory and tax
consequences, immediately from its broker, bank manager, solicitor, accountant
or other independent financial, tax or legal adviser. None of the Issuer, the
Dealer Manager or the Tender Agent or their respective directors, employees or
affiliates will have any liability or responsibility in respect of any
decision of a Noteholder as to their decision of whether to participate or not
to participate in the Offers.

Investor enquiries to:

Greg Case                               +44 (0)
20 7992 3825                 investorrelations@hsbc.com
(mailto:investorrelations@hsbc.com)

 

Media enquiries to:

Press Office                            +44 (0) 20
7991 8096                   pressoffice@hsbc.com
(mailto:pressoffice@hsbc.com)

 

Note to editors:

 

HSBC Holdings plc

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in
London. HSBC serves customers worldwide from offices in 60 countries and
territories. With assets of US$2,975bn at 30 June 2024, HSBC is one of the
world's largest banking and financial services organisations.

 

ends/all

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TENGIGDCGSDDGSX