HSBC seeks $4 bln from property sales -paper

LONDON, April 12 Sun Apr 12, 2009 10:49am EDT

Related Topics

LONDON, April 12 (Reuters) - Europe's largest bank HSBC Holdings (HSBA.L) is looking to sell three of its biggest office buildings to raise 2.7 billion pounds ($3.98 billion), the Sunday Telegraph reported without citing sources. HSBC plans to sell and lease back the buildings, which inlude its London headquarters in the financial district of Canary Wharf, its French base in Paris and some New York offices, the paper said.

HSBC bought back its skyscraper at Canary Wharf for 838 million pounds from ailing Spanish property firm Metrovacesa MVC.MC at the end of last year after the Spanish firm failed to refinance a loan secured on the building.

HSBC, which has just completed a rights issue raising 12.9 billion pounds, could not be immediately reached for comment. ($1=.6789 pounds) (Reporting by Victoria Bryan; editing by Mike Nesbit)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.