World Economy

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.