-HKSB bond issue rated 'AA-'.
Global Banking News - 09 July 2013
The Hong Kong and Shanghai Banking Corporation Limited (HKSB) issue of senior unsecured bonds has been assigned a long-term foreign currency rating of 'AA-' by Fitch Ratings.
HKSB is an entity of the HSBC Group (LON: HSBA) and is a first time issuer in the liquid Japanese yen market. The bank had issued a 54.9bn five-year senior unsecured bond on 27 June 2013. Of this JPY37.7bn is at 0.605 percent fixed rate and JPY17.2bn is at floating rate.
HKSB will be able to tap term funding from a new investor base following its bond issue in the foreign currency debt market, said a Fitch statement in a Reuters report.
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