HSBC Holdings plc in $900 Million Debt Offering

May 3, 2006

Cleary Gottlieb represented longtime-client HSBC Holdings plc in an offering of $900 million of its 6.5% subordinated notes due 2036. The notes will be listed on the New York Stock Exchange.

HSBC is one of the largest banking and financial services organizations in the world with 9,500 offices in 76 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. The company provides a comprehensive range of financial service including personal financial services and commercial banking.