HSBC TO SELL US$25B OF AUSTRALIAN HOME LOANS TO BLACKSTONE AT A LOSS OF LESS THAN US$100M

HSBC Holdings has agreed to sell its US$25 billion Australian home loan portfolio to a unit of Blackstone, which is expected to result in an immaterial pre-tax loss of less than US$100 million for the group by the… The sale price was based on the portfolio’s value of A$36 billion (US$25 billion) as of the end of January, plus a premium related to changes in interest rates, collections received and costs.

News - South China Morning Post reports that hSBC Holdings has agreed to sell its US$25 billion Australian home loan portfolio to a unit of Blackstone, which is expected to result in an immaterial pre-tax loss of less than US$100 million for the group by the…

The report adds: The sale price was based on the portfolio’s value of A$36 billion (US$25 billion) as of the end of January, plus a premium related to changes in interest rates, collections received and costs.

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