October 23, 2017 9:29 PM ET

Thrifts and Mortgage Finance

Company Overview of HSBC Finance Corporation

Company Overview

HSBC Finance Corporation, through its subsidiaries, provides real-estate secured receivables in the United States. The company was formerly known as Household International Inc. and changed its name to HSBC Finance Corporation in December 2004. HSBC Finance Corporation was founded in 1878 and is based in Arlington Heights, Illinois.

1421 West Shure Drive

Suite 100

Arlington Heights, IL 60004

United States

Founded in 1878

1,200 Employees

Phone:

224-880-7000

Key Executives for HSBC Finance Corporation

Chief Executive Officer
Age: 56
Chief Financial Officer and Executive Vice President
Age: 54
Chief of Staff to the CEO, Head of Strategy & Planning and Senior Executive VP
Age: 56
Chief Operating Officer of USA and Senior Executive Vice President
Age: 53
Chief Risk Officer, Senior Executive Vice President and Executive Director
Age: 56
Compensation as of Fiscal Year 2017.

HSBC Finance Corporation Key Developments

HSBC Finance Corp. Announces Early Tender Results of its Offer to Purchase for Cash Up to $1.1 Billion of Outstanding 6.676% Senior Subordinated Notes due January 15, 2021

HSBC Finance Corporation announced the early tender results of its previously announced offer to purchase for cash up to $1,104,230,000 of its outstanding 6.676% Senior Subordinated Notes due January 15, 2021, from holders thereof, upon the terms and subject to the conditions in the Offer to Purchase dated September 5, 2017 and in the related Letter of Transmittal dated September 5, 2017. On September 18, 2017, at 5:00 p.m., New York City time (the Early Tender Date), HSBC Finance had received valid tenders (which tenders were not validly withdrawn or revoked) from Holders of an aggregate of $1,555 million in principal amount of the Notes (the Early Tender Notes). Withdrawal rights for the Notes expired at 5:00 p.m., New York City time, on September 18, 2017. Pursuant to the Offer Documents, because the aggregate principal amount of Early Tender Notes validly tendered and not validly withdrawn or revoked exceeds the Tender Cap, HSBC Finance will accept for purchase the Early Tender Notes on a prorated basis in the proportion of approximately 71% of the principal amount of the Early Tender Notes. HSBC Finance will accept for purchase the aggregate principal amount of Early Tender Notes tendered by a Holder multiplied by the proration rate and then rounded down to the nearest $1,000 increment. The aggregate consideration payable under the Offer for the Accepted Notes is approximately $1,268 million, which represents a total consideration of $1,148.41 per $1,000 principal amount of the Accepted Notes, in each case, excluding any accrued and unpaid interest on the Accepted Notes. The Accepted Notes represent approximately 38% of the principal amount outstanding of Notes as of September 18, 2017. The Early Settlement Date will be on September 20, 2017. Because the Offer was fully subscribed as of the Early Tender Date, HSBC Finance will not accept for purchase any Notes not already purchased on the Early Settlement Date. Any Notes tendered pursuant to the Offer but not accepted for purchase by HSBC Finance on the Early Settlement Date will be promptly returned to Holders.

HSBC Finance Corp. to Offer Outstanding 6.676% Senior Subordinated Notes Due Jan. 15, 2021

HSBC Finance Corp. is offering to purchase for cash up to $1.10 billion of its outstanding 6.676% senior subordinated notes due Jan. 15, 2021. The outstanding principal amount of notes is $2.94 billion. The early tender date is on or prior to 5 p.m. ET on Sept. 18, and the offer expires at 11:59 p.m. ET on Oct. 2. In connection with the offer, HSBC Finance entered into an agreement with HSBC Holdings Plc pursuant to which HSBC Finance has agreed to repurchase $730.8 million of notes, representing all of the outstanding notes held by HSBC Holdings. Global Bondholder Services Corp. is acting as the depositary and as the information agent, and HSBC Securities (USA) Inc. is acting as the dealer manager for the offer.

HSBC Finance Corporation Approves Amendment and Restatement of Its Bylaws

On April 20, 2017, the Board of Directors of HSBC Finance Corporation approved an amendment to and a restatement of its bylaws, which were effective immediately upon such approval by the Board. The Bylaws were amended to add the position 'Head of Financial Crime Compliance' to the list of policy making officers as referenced in the Bylaws.

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