Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for HSBC Holdings plc > News item |
HSBC calls all 6.2% non-cumulative preference shares, series A
By Taylor Fox
New York, Dec. 10 – HSBC Holdings plc plans to redeem all of its 1.45 million 6.2% non-cumulative dollar preference shares, series A represented by American Depositary Shares, series A, according to a news release.
The shares will be redeemed at a redemption price of $1,000 per preference share and $25 per ADS, plus accrued and unpaid dividends for the then-current dividend period to the redemption date.
The redemption will be funded using proceeds from the sale of perpetual subordinated contingent convertible securities.
Any remaining proceeds from the new securiites will be used for general corporate purposes and to further strengthen the company’s capital base pursuant to regulatory requirements.
The banking and financial services company is based in London.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.