HSBC is to go back to the debt markets for the second time in little more than six months to try to refinance the £810m of debt it provided for the sale of its Canary Wharf headquarters. Daily Telegraph
The world's third-largest bank has been carrying the short-term loan on its books since it provided the debt to sell HSBC Tower to Spanish property group Metrovacesa in May last year for £1.1bn.
The original plan to sell the debt into the commercial mortgage-backed security market failed in the autumn because of the credit crisis. Now insiders say the bank is enlisting a US investment bank to carry out a traditional securitisation or syndicate the loan.
