HSBC France, Paris, has launched an 8 billion euro ($11.6 billion) covered-bond program under French law, with the capability of issuing private placements in German law registered format.
HSBC Covered Bonds (France) will be the issuer of the program and will be secured by euro-denominated French residential home loans originated by HSBC France.
"Several benchmark transactions with various maturities are planned to be launched annually with the objective of creating a new liquid investment opportunity for the covered-bond investors," the company said.
