Debt Capital Markets
Through a diverse mix of products, structures and currencies, Treasury ensures that HBOS' funding needs are met and has successfully supported HBOS' momentum and expansion whilst keeping the cost of funding to a minimum. We are continuously expanding our suite of funding products through the development of asset backed programmes, covered bonds and the further development of a full range of structured products.
The debt investor relations team works to assist investors make informed decisions about HBOS plc’s credit standing and products. We are available for individual client meetings, as well as larger audience presentations to discuss HBOS Group and the markets in which it operates. Our aim is to conduct an ongoing dialogue with debt investors and to build an open and informative relationship. Please click here to go to the Debt Investor Relations home page.
Medium Term Notes
Senior unsecured debt issuance is handled by the Medium Term Note (MTN) Desk, which is part of the Funding and Liquidity team.
The MTN desk has senior outstandings of almost £40 billion, most of which is issued in the form of 'medium term notes' under two programmes: the 'Reg S' programme which is used for issuance outside the U.S.A. and the '144A' programme which is used for issuance in the U.S. domestic market.
For further details of our 'Reg S' programme including issuance parameters,programme prospectus and pricing supplements, please click here. For further information on the '144A' programme please contact the MTN desk.
Contact details:-
Tel: +44 (0) 20 7574 8691
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Simon White, Senior Director e-mail: simonwhite@bostreasury.com
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Peter Green, Assistant Director e-mail: petergreen@bostreasury.com
- Alison Lowrie, Assistant Director e-mail: alisonlowrie@bostreasury.com
Capital
To support and maintain its capital ratios HBOS plc is a regular issuer of capital securities. Following the completion of the £4.0bn Rights Issue in late July 2008, the Group's capital ratios have been rebased to a higher level. At 30 June 2008, the pro forma capital ratios (calculated to include the £4.0bn of capital raised from the Rights Issue) were Tier 1 8.6%, Core Tier 1 6.5% and Total Capital 12.2%. These ratios are in the middle of our revised target ranges of 8%-9% for Tier 1 and 6%-7% for Core Tier 1. As a regular issuer, HBOS has outstanding capital securities denominated in GBP, USD$, €uro, AUD and JPY, and on an ongoing basis is constantly looking to diversify by accessing new markets, alternative currencies and by deepening its exposure to investors through a pro-active investor relations strategy. For more details of our outstanding capital transactions including pricing supplements and offering circulars, please click here.
Securitisation and Covered Bonds
We use a number of securitisation and Covered Bond programmes as part of our funding and capital management activities. More information about the various programmes, including prospectuses and monthly reports can be obtained by clicking here.
