{
  "id": 18458186,
  "title": "HSBC to issue $1.5 billion of contingent convertible bonds",
  "url": "https://urgent.news/2026/11/06/hsbc-to-issue-1-5-billion-of-contingent-convertible-bonds",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-06T06:38:30.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40447740/hsbc-to-issue-15-billion-of-contingent-convertible-bonds"
  },
  "original_language": "en",
  "account": "HSBC, Europe's largest bank, has announced plans to issue $1.5 billion of perpetual subordinated contingent convertible securities. The issuance aims to bolster the bank's capital base and serve general corporate purposes, according to the company. The securities, which bear a 7.625% coupon, will be released on November 13. If the bank's common equity Tier 1 ratio, a crucial indicator of a bank's financial strength, drops below 7.0%, the securities will automatically convert into shares. HSBC anticipates listing the securities on Euronext Dublin's Global Exchange Market within 30 days of issuance. The bank's issuance aligns with a shareholder-approved mandate, eliminating the need for a further shareholder vote. The coupon rate remains fixed until May 13, 2032, after which it will reset every five years at the five-year US Treasury yield plus 3.004%. Prior to this announcement, HSBC revealed plans for a $4.25 billion issuance of senior unsecured notes in two tranches, due in 2032 and 2037.",
  "summary": "HSBC , Europe’s largest bank, said on Friday it plans to issue $1.5 billion of perpetual subordinated contingent convertible securities to strengthen its capital base and for general corporate purposes. The securities carry a 7.625% coupon and will be issued on November 13, the company said. The securities would convert automatically into shares if the bank’s common equity Tier 1 ratio, a key…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}