2nd UPDATE: HSBC Plans 10-Year Senior Euro Bond At Swaps +1.10

9th Jul 2010 11:09

(Adds detail) By Mark Brown Of DOW JONES NEWSWIRES LONDON (Dow Jones)--HSBC Holdings PLC (HBC) plans to issue a euro-denominated, senior, benchmark bond maturing in January 2021, in a self-led transaction, a syndicate official at the bank said Friday. HSBC is rated Aa2 by Moody's Investors Service Inc., AA- by Standard & Poor's Corp. and AA by Fitch Ratings. Early discussions indicated that price guidance could be around 110-115 basis points over midswaps, and guidance was subsequently heard at 110 basis points over midswaps, one investor said. A debt syndicate banker at another bank said the deal would probably see strong investor demand. "It will fly out of the door," this banker said. "People like the [HSBC] name a lot." -By Mark Brown, Dow Jones Newswires; + 44 (0)207 842 9485; [email protected] (END) Dow Jones Newswires July 09, 2010 06:09 ET (10:09 GMT)