HSBC Sells $4.25 Billion in Senior Notes

HSBC Holdings ($HSBC) priced $1.75 billion of 5.819% fixed/floating senior unsecured notes due 2032 and $2.50 billion of 6.262% fixed/floating senior unsecured notes due 2037, raising $4.25 billion combined, according to its SEC prospectus supplement. The five-year gap between the two maturities pushed the coupon up by 44 basis points. HSBC said the proceeds go toward general corporate purposes, extending the bank's debt ladder further into the next decade.