HSBC Said to Plan 95 Billion Yen in Samurai Bond Sales as Soon as Tomorrow

HSBC Holdings Plc’s banking unit plans to sell at least 95 billion yen ($1.1 billion) of five- year Samurai bonds as soon as tomorrow, according to a person with knowledge of the transaction.

HSBC Bank Plc told investors it plans to sell at least 70 billion yen of fixed-rate bonds priced to yield 40 basis points more than the yen swap rate, said the person, asking not to be identified as the information is private.

The lender also plans to sell at least 25 billion yen of similar-maturity floating-rate notes yielding 55 basis points more than three-month London interbank offered rate for yen, the person said.

HSBC Securities Japan Ltd. and Mitsubishi UFJ Morgan Stanley Securities are managing the sale, according to an Aug. 30 filing with Japan’s Finance Ministry.

Samurai bonds are yen-denominated notes sold in Japan by overseas borrowers. A basis point is 0.01 percentage point.

To contact the reporters on this story: Yusuke Miyazawa in Tokyo at ymiyazawa3@bloomberg.net Takashi Ueno in Tokyo at tueno@bloomberg.net

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