HSBC to issue $1.5b perpetual convertible securities

HSBC (0005) plans to issue an aggregate principal amount of US$1.50 billion (HK$11.7 billion) in perpetual subordinated convertible securities, the lender said in a filing to Hong Kong stock exchange on Tuesday.

The interest rate on the securities will be 6.95 percent per annum, HSBC said.

REUTERS