HBME is a wholly-owned subsidiary of HSBC Holdings, and is the banking group's operating company in the Middle East and Pakistan. HBME is rated Aa2 (Moody's) and AA- (Fitch).
The five year floating rate notes priced at 6 month EIBOR + 70 basis points. HBME will use the proceeds for general corporate purposes.
Neil Foster, HSBC's Middle East Head of Global Markets, said: "We have obtained a highly competitive price for this issue, especially considering the volatility and uncertainty in today's markets. This is testament to the excellent performance and strong prospects for HSBC across the Middle East."
Investor demand was strong, and the credit was taken up by investors in Asia and Europe, as well as from the Middle East.
Browse
related articles
HSBC Bank Middle East Limited closes Dhs2.25bn five-year floating rate note
- United Arab Emirates: Tuesday, May 06 - 2008 at 09:26
- PRESS RELEASE
Related content
HSBC Bank Middle East Limited (HBME) has closed a five year bond issue of Dhs2.25bn ($616.5m), largest ever dirham-denominated bond from a financial issuer.
Article Options
Log in to request more information from HSBC Bank Middle East
Posted by Medilyn Manibo, Assistant News EditorTuesday, May 06 - 2008 at 09:26 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Notes and Media Contacts »
Media enquiries:
Tim Harrison
Tel: +971-4-509 3389
mobile: +971-50-657-9920
HSBC Bank Middle East Limited
HSBC is the largest and most widely represented international bank in the Middle East. HSBC Bank Middle East Limited has 37 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Kuwait, Jordan, Lebanon and the Palestinian Autonomous Area, including an offshore banking unit in Bahrain. In addition to the branch network the Bank maintains representative offices in Tehran, Iran and Tripoli, Libya. This extensive regional coverage is strengthened by another member of the HSBC Group, HSBC Bank Egypt SAE, and by its associated companies,The Saudi British Bank, British Arab Commercial Bank Limited, and HSBC Saudi Arabia Limited.
Tim Harrison
Tel: +971-4-509 3389
mobile: +971-50-657-9920
HSBC Bank Middle East Limited
HSBC is the largest and most widely represented international bank in the Middle East. HSBC Bank Middle East Limited has 37 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Kuwait, Jordan, Lebanon and the Palestinian Autonomous Area, including an offshore banking unit in Bahrain. In addition to the branch network the Bank maintains representative offices in Tehran, Iran and Tripoli, Libya. This extensive regional coverage is strengthened by another member of the HSBC Group, HSBC Bank Egypt SAE, and by its associated companies,The Saudi British Bank, British Arab Commercial Bank Limited, and HSBC Saudi Arabia Limited.
Disclaimer »
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
