UPDATE: HSBC Plans 10-Year Euro Benchmark Bond

9th Jul 2010 09:30

(Adds detail, comment) by Mark Brown Of DOW JONES NEWSWIRES LONDON (Dow Jones)--HSBC Holdings PLC (HBC) plans to issue a 10-year, euro-denominated, benchmark bond, in a self-led transaction, a syndicate official at the bank said Friday. HSBC is rated Aa2 by Moody's Investors Service, 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 mid-swaps, but no official guidance had been set, 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 04:30 ET (08:30 GMT)