HSBC sells secured loan portfolio

RNS Number : 9149Y

HSBC Holdings PLC

01 March 2013

 



01 March 2013

HSBC SELLS SECURED LOAN PORTFOLIO

A portfolio of secured loans has been sold by HFC Bank Limited and its subsidiaries (together 'HFC') to Sancopia Portfolios - A S.à r.l. ('the Purchaser'), a Luxembourg entity established by a consortium of investors led by CarVal Investors, under an agreement entered into between HFC and HSBC Bank Plc, wholly-owned subsidiaries of HSBC Holdings Plc, and the Purchaser.

The portfolio had a gross asset value of approximately £383m as of 31 December 2012.

This sale represents further progress in the execution of the Group's strategy.

Media enquiries to:

Patrick Humphris

[phone]

[e-mail]

Investor Relations enquiries to:

London
Guy Lewis	[phone]	[e-mail]
Robert Quinlan	[phone]	[e-mail]
Hong Kong
Hugh Pye	[phone]	[e-mail]

Note to editors:

HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 6,900 offices in over 80 countries and territories in Europe, the Asia-Pacific region, North and Latin America, and the Middle East and North Africa. With assets of US$2,721bn at 30 September 2012, the HSBC Group is one of the world's largest banking and financial services organizations.

 

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