This menu shows you other areas of this website and various areas of interest. It is a quick locator.
You are currently in a library. This takes you to the top level of Household - HSBC Watch consumer advocates and watchdogs
This takes you to the complaints library and all recent complaints about HSBC, HFC, Beneficial Finance, and their merchants since 2007
Monitor the latest news about HSBC Plc, HSBC USA, the bank and HSBC Finance Corp from around the world in this watchdog area
See articles, stories, and complaints about HSBC and Household International since 2005 in this interactive library
Submit your complaint to our watchdogs. We perform trend analysis and need your help. Complaints are noted by type and processed
Get help with this one-click form just by entering your zip code in this form. You can even contact the media
You're browsing: Archived News » 2007 HSBC » Article Title: HSBC’s SIV Rescue and Asscher Notes – A Big Loss?
28
Feb
HSBC’s SIV Rescue and Asscher Notes – A Big Loss?
Research

HSBC Holdings Plc’s rescue of its Asscher Finance Ltd. structured investment vehicle will mean 70 percent losses for bondholders including a Spanish unit of Credit Suisse Group. London-based HSBC is restructuring Asscher to prevent it from having to sell assets at fire sale prices to repay maturing debt. Asscher has $5.9 billion of debt outstanding, including $468 million of mezzanine notes. HSBC is the second-largest bank manager of the funds after Citigroup in New York. Both Citigroup and HSBC have problems related to with SIV’s ( structured investment vehicles).

Moody’s Investors Service cut Asscher’s mezzanine debt by 15 levels to Caa2, eight steps below investment grade, from A2 since November. HSBC restructured its Cullinan Finance Ltd. SIV earlier this month with $26 billion of senior debt after investors exchanged their holdings for bonds in two new companies. The SIV will be wound down after its assets are transferred to the new investment companies and its existing senior debt matures.

Popularity: 9% [?]

No related posts.

   Digg   Del.icio.us   StumbleUpon   Reddit   RSS  
Send your report, complaint, or horror story for trend analysis Submit Your Report

Find specific results on any of our sites: Category: 2007 HSBC
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Leave a Reply

You must be logged in to post a comment.

«
»