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HSBC to Sell $2.7b in Loans

HSBC to Sell $2.7b in LoansHSBC to Sell $2.7b in Loans

HSBC Holdings Plc, Europe’s largest bank, is selling $2.7 billion of loans as part of a plan to cut risk-weighted assets by $290 billion over the next three years, according to two people with knowledge of the sale, Bloomberg reported. 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 US, they said.

Financialtribune.com