HSBC said selling $2.7bn of loan in asset reduction plan

HSBC Canary Wharf

HSBC is selling $2.7bn of loans as part of a plan to cut risk-weighted assets by $290bn over the next three years, according to two people with knowledge of the sale.

Bloomberg News reports that the credits to about 69 different parties include investment-grade loans, project finance, and both performing and non-performing leveraged loans, said the people, who asked not to be identified because the sale is private. The loans are to companies in Europe, Asia and the U.S., they said.

HSBC’s global banking and markets division “has its own risk-weighted asset reduction targets, and it’s constantly reviewing its opportunities to reduce its pool of risk-weighted assets,” said Sarah Marquer, a spokeswoman for the bank. She declined to comment on the details of the sale.

To access the complete Bloomberg News article hit the link below:

HSBC Said to Sell $2.7 Billion of Loans in Asset-Reduction Plan

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