HSBC sets final guidance for Samurai bond sale, term sheet shows

HSBC ​Holdings has set final price guidance ​for a planned Japanese yen-denominated Samurai bond sale, according to an updated term sheet seen on Wednesday.

The bank set ‌the final ⁠guidance ⁠at 75 basis points over Japanese yen mid-swaps for ​2030 notes, 95 basis points for 2032 notes and 110 ​basis points for 2037 notes.

Here are more details:


* The bank is marketing senior unsecured ​callable fixed-rate bonds due in ⁠2030, 2032 ‌and 2037.

* The bonds will ​be ​sold at 100% of their face ⁠value. The final size of the sale, and ​whether all three parts are ​issued, will depend on investor demand.

* Initial price guidance was set at 70-75 basis points over yen mid-swaps for the 2030 notes, 90-95 basis points for the 2032 notes and ‌105-110 basis points for the 2037 notes.

* A Samurai bond is ​a yen-denominated ​bond issued ⁠in Japan by a foreign borrower.

* HSBC, Daiwa, Mitsubishi UFJ Morgan Stanley, Mizuho, Nomura and SMBC Nikko are ​arranging the sale.

* The bonds are expected to be rated A3 by Moody's and A- by S&P. Pricing is expected on Friday, with settlement scheduled for September 11.