HSBC Bank Canada completes C$175 million public offering

Date Closed: 11/09/2005

Value: C$175 million

On November 9, 2005, HSBC Bank Canada completed a Canadian public offering of $175 million of Class 1 Preferred Shares Series D. This was the third public offering of preferred shares by HSBC, and the second offering in 2005. Seven million shares were issued at $25 per share, each entitling the holder to quarterly non-cumulative dividends at a rate of 5 per cent per annum. The offering was underwritten by a syndicate of underwriters co-led by HSBC Securities (Canada) Inc. and RBC Dominion Securities Inc., and including Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Desjardins Securities Inc. and Trilon Securities Corp.

HSBC was represented internally by Annelle Wilkins, Lynne Charbonneau and Scott Bartos, and by external counsel, BLG with a team from its Vancouver office that included Bill Sirett, Jason Brooks and Eric Doherty (securities), Bruce Sinclair (tax) and Debra Sing, Q.C., and Ambrose Sung (banking regulation/corporate).