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Issuer Services

Designed around your unique needs, our products and solutions can propel your organisation further.

Your partner of choice for trustee and agency transactions

Our Issuer Services proposition is designed to support and enhance the corporate strategies of leading global companies, financial institutions and capital market investors. Our vast network, local knowledge and client-focused services enable us to provide tailored corporate trust and loan agency solutions.

Overview

Access to international capital markets

A wide range of solutions

Efficiency through innovation

Technology is embedded in our everyday activities and has been a key enabler in helping us build new ways of interacting with our clients and better ways of delivering our services, with more automation, more efficiency and overall a better client experience.

Our one-stop shop settlement platforms for both loans and bonds make it easier for corporate and financial institution clients to efficiently and quickly process complex loans and debt capital market transactions.

Our suite of APIs is designed to facilitate the exchange of data from high-volume issuance programs, while adding a new level of self-service for our clients, with seamless access to their data, more transparency and efficiency.

Our in-house bond platform helps bringing more simplicity and efficiency in complex operations for our clients and increasing their level of autonomy. To manage efficiently the high level of volumes we deal with on a daily basis, we have put a strong emphasis on our platform to make it secured, efficient, while providing a truly end-to-end solution.

Data and reporting are embedded in our systems to allow you to track your cash flows at every stage of your transaction.

Our client portal HSBCnet gives you a clear picture of all your global banking operations in one place.

Partnering with Law Firms

Reliable partnership

Why partner with HSBC?

Credit rating
Our strong credit rating and robust balance sheet help you reduce counterparty risk, an essential element for efficiently managing your transaction.

Global network
Issuer Services supports clients globally, operating from 15 countries. We have presence in major cities like London, Paris, Hong Kong, Singapore, Dubai and New York. Our international presence enables us to offer our clients customised cross-border transactions and market-specific services.

Relationship-driven
Our experienced team provide hands-on assistance with onboarding and documentation review. A dedicated client service manager will provide ongoing support, while a specialised transaction manager will take care of your documentation.

Our roles

Across our core products, we deliver agency and trustee roles to support the administrative and operational aspects of clients’ capital markets transactions throughout the life cycle of the deal.


Roles*	Definition
Account Bank	Provides currency bank accounts required for transactions, with access made available to selected deal parties via HSBCnet where available
Agent Bank	Calculates the rate of interest for floating and variable rate bonds/notes with reference to prescribed indices, and notifies the relevant transaction parties
Calculation Agent	Calculates the redemption price on a bond/note according to a prescribed formula, and notifies the relevant contractual parties
Cash Manager	Related to securitisation - collates and manages cash flows and administers the payment waterfall across the capital structure of a transaction
Custodian	HSBC can be instructed to hold securities as collateral for various structured or securitised transactions including Repackaged Note Programmes.
Conversion Agent / Warrant Agent	Co-ordinates the conversion from bonds/notes into the issuer's equity or for warrants into another form of security. Co-ordinates with the Transfer Agent (or Depositary for American Depository Receipt transactions), for the delivery of converted equity to the note holders
ECA Agent	Related to Export Finance - acting as agent of the Export Credit Agency (ECA) in a direct lending transaction or where the ECA is acting as a guarantor to an HSBC loan
Escrow Agent	HSBC can be instructed by clients to hold cash or securities in escrow (the beneficiary is usually a third party introduced to HSBC Bank plc). NB - Custody services for all these roles are provided by HSS Global Custody. (France - cash only) (Saudi - Securities only)
Exchange Agent	Co-ordinates the exchange from one form of security to another or to cash.
Facility Agent	Administers and services syndicated loan facilities. Serves as a mediator between the borrower and the lender group, in accordance with the collective instructions of the lenders and the borrower as stipulated within the agreement.
Intercreditor Agent	Related to Project Finance transactions - acts as a conduit between a group of facility agents and the borrower. In reference to Loans acts to outline and process repayment waterfalls
Paying Agent	Processes payments of interest and principal from the issuer to investors, usually through a Clearing System
Issuing Agent	Facilitates the movement of cash and information for new issues of debt securities, particularly securities of continuous issuance programmes such as Medium-Term Notes. Often combined with Paying Agent role
Registrar / Transfer Agent	Maintains the register of Noteholders for securities issued in registered form and adminsiters and records any transfer of ownership between the Noteholders
Trustee	Appointed to represent the interests of Noteholders or lenders in relation to the issuer's/borrower's covenants over the maturity of the transaction
Security Agent	Holds the security granted by the issuer/borrower for the benefit of the various secured parties, with focus on enforcement of the security in a default scenario

* List not exhaustive

Download our brochure: Issuer Services brochure

Download the brochure (PDF, 5.94MB)

Our solutions

Bonds and Debt Programs

Facilitating seamless execution

Issuing debt is a complex process. Managing multiple stakeholders, deadlines and complicated administrative tasks requires dedicated resources and experience.

Our Issuer Services teams takes care of the administrative and operational responsibilities involved in debt issuance, helping ensure that the process and execution run smoothly from inception until maturity.

Escrows

Peace of mind for large transactions

HSBC acts as an independent party to hold assets in custody or certain documents in safekeeping.

We act under the instructions of the contracting parties to the agreement when handling or releasing these assets or documents. Our teams help you ensuring deals are completed as quickly and efficiently as possible.

#HSBCescrows: Our proposition in 4 points

Efficient risk management

Risk mitigation is an important part of our proposition. Whether you are the buyer or the seller, our escrow solutions are designed to help you:

Mitigate timing risk
Mitigate counterparty risks
Protection of buyer/seller’s funds
Assurance of milestone payments

Tailored solutions

We deal with global, complex transactions and have experience to tailor solutions that are specific to the transaction’s needs.

Our Escrow services support of a variety of transactions: M&A, pension deficits, collateral accounts, insurance linked securities, securing contractual representations and warranties, trading requirement escrow deposits and construction fund escrow deposits.

Seamless execution

Tap into our streamlined documentation capabilities: our process is well known in the market to enable the legalities of the role be agreed in the most efficient way between both parties. Partner with us and benefit from:

International coverage for cross-border deals.
Timely execution of transactions.
Seamless client service management.

Reliable safekeeping

The safeguarding of assets is a key component of HSBC’s proposition when acting as a trusted third-party escrow agent.
We act as the independent safe-keeper of the deposit to alleviate risk factors for both the buyer and the seller.
Once live, we will hold the deposit in safekeeping while all conditions precedent are being met. Pending receipt of matching instructions from both parties, we will release the deposit from the Escrow Account to the beneficiary.

Download the interactive Escrow map here

Insurance Linked Securities

Dedicated support, comprehensive solutions

Issuer Services provides trustee, account bank, custody and agency services in support of a wide range of Insurance Linked Securities (ILS) activities.

Our capabilities include collateralised reinsurance, catastrophe bonds and sidecars. We have been involved in high-profile transactions in the market and have experience working with operations relating to insurance special purpose vehicles. We support ILS transactions as an independent party with a strong credit rating. We offer a broad range of services associated with security arrangements, collateral, investments and insurers’ custody and bank accounts.

Read our latest thought leadership article.

Loan Servicing

Value added to the lending chain

We offer comprehensive operational and administrative solutions in every step of the loan lifecycle.

From origination, arrangement, underwriting and syndication of buyouts and corporate acquisitions, our teams support you efficiently.

Syndicated Loans capabilities

We are proud to be ranked amongst the Top Facility Agents 2018 in the Bloomberg Full Year 2018 EMEA Syndicated Loans League Tables and some of the largest transactions we process are syndicated loans. We take care of the administrative and operational responsibilities involved in debt issuance, helping ensure that the process and execution runs smoothly from inception until maturity. Whether we act as a facility agent or security agent, our experience includes delivering competitive, timely services for the processing of cash flows, interest payments and fees for corporates and financial sponsors, in both domestic and cross-border transactions.
*Source: Bloomberg Full Year 2018 EMEA Syndicated Loans League Tables, December 2018

Third Party Loan capabilities

We support institutional clients to capture debt fund opportunities, in particular private debt. We service the client's position as administrative agent both in syndicated loans and loans in other facilities that clients may be purchasing in their individual capacity through assignment.

Project and Export finance

Your go-to specialist for export finance operations

Over the past 20 years, we have developed our knowledge of the project and export finance sector by providing bond and loan agency services.

Today, we continue to attract clients across our global platform, demonstrating both our reach and operational capabilities. Enjoy easier decision making thanks to our team’s experience working with Development Finance/MLA lenders with complex decision-making processes. In addition, acting as an Intercreditor agent, we arrange and administer any voting required in respect of decisions to be made by the Lenders or their agents under the financing agreements.

Find out more in our brochure (PDF, 8.1MB).

Repackaged notes

Structured debt

Making complex operations simpler

Our experience in structured debt has allowed us to become an established corporate trust provider.

Benefit from our trustee, agency and account bank services across multiple asset classes, such as Asset-Backed Securities, Residential/Commercial Mortgage-Backed Securities, Collateralised Loan Obligations, Covered Bonds, across various jurisdictions.

Find out more in our brochure (PDF, 686KB).

Our proposition in 4 points

A solid counterparty

HSBC’s large balance sheet and high credit rating leave it well positioned as counterparty to support structured debt operations.
The credit rating of agents is an important consideration for market participants to factor into their service provider selection processes.

Efficient cash management

Put our expertise to work for you.

Cash manager capability: Experience efficient cash management through our cash manager role whereby we manage the SPV’s* accounts opened with the account bank.
Reporting: Combined with investor reporting capabilities, our end-to-end solution brings efficiency and transparency to your issuance.

*Special Purpose Vehicle

Supporting innovative structures

Our teams work with you to support your transactions, including those with hybrid features:

Alternative versions of traditional RMBS such as buy-to-let structures.
Alternative student loans with a focus on post-graduate loans e.g. loans for MBAs.
Consumer loans in the retail sector e.g. loans intended specifically for the purchase of clothing.
Or other asset classes e.g. insurance premium receivables or Peer-to-Peer (P2P).

Technology

Direct access to your transactions: HSBCnet our award-winning online client platform allows real-time, online information and reporting for both activity and outstanding issuances.
Enriching your client experience: To give you a seamless experience, HSBC is investing heavily into digital with a focus on core analytics, data management, database capabilities, waterfall technology.
Get seamless access to your data through the use of APIs (Application Programming Interface).

Contact us

For more information about our Issuer Services solutions, please contact us.

Europe: issuer.services.europe@hsbc.com
APAC: isvhkbd@hsbc.com.hk
Americas: isvusbd@us.hsbc.com
MENAT: isvmenatbd@hsbc.com

Disclaimer

This communication has been prepared by a member of the HSBC group of companies ("HSBC") is for information purposes only and does not constitute or form any part of any (i) invitation or inducement to engage in investment activity or (ii) offer, solicitation or invitation by HSBC or any of its members, directors, officers, employees, affiliates or agents or any other person for the sale or purchase of any securities or other investments described herein and nothing contained herein shall form the basis of any contract or commitment or investment decision whatsoever. This communication should not, except with the prior written consent of HSBC, be copied, reproduced, distributed, communicated or disclosed in whole or in part by recipients to any other person. The information contained in this communication has not been independently verified by HSBC or any independent third party and is based on publicly available sources or proprietary data provided as at the date of this communication, does not purport to be comprehensive and is subject to change without notice. HSBC is under no obligation to update or keep current the information contained herein. Accordingly, no representation or warranty or undertaking, express or implied, is given by or on behalf of HSBC as to, and no reliance should be placed on, the accuracy, completeness or fairness of the information or opinions contained herein and HSBC disclaims all liability arising from or in connection with this communication. This communication is directed only at Professional Clients or Eligible Counterparties (as defined in the EU Directive 2014/65/EU on Markets in Financial Instruments Directive, as amended ("MiFID II") and in the United Kingdom, within the meaning of MiFID II and the Markets in Financial Instruments Regulation (Regulation 600/2014), as amended, and any implementing legislation as it forms part of retained European law as defined in the European Union (Withdrawal) Act 2018 (as amended from time to time ) and is not for use or distribution to Retail Clients.

Where the transaction described in the communication is a Reg S transaction: This communication is not for distribution, directly or indirectly, in or into the United States. The securities described in the communication have not been, and will not be, registered with the US Securities and Exchange Commission or any other US regulator, and were offered to persons outside the United States in compliance with Regulation S under the US Securities Act of 1933 as amended (the "Securities Act"). Nothing in this communication should be relied upon as a promise or representation as to the future, creates any adviser / client relationship between any recipient and HSBC nor constitutes an invitation or inducement to engage in investment activity nor an offer, solicitation or invitation by HSBC for the sale or purchase of securities or any of the assets, business or undertaking described therein.

Where the transaction described in the communication is a Reg S/144A transaction: This communication is not for distribution, directly or indirectly, in or into the United States except to Qualified Institutional Buyers (as defined in Rule 144A under the Securities Act and to persons outside the United States in compliance with Regulation S under the Securities Act.

All information is subject to local regulations. Issued by HSBC Bank plc. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England No 14259. Registered Office: 8 Canada Square London E14 5HQ United Kingdom. Member HSBC Group.

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