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BRIEF-HSBC Holdings updates on sale of additional portfolio of US consumer mortgage loans
March 9, 2017 / 1:43 AM / 5 months ago

BRIEF-HSBC Holdings updates on sale of additional portfolio of US consumer mortgage loans

March 9 (Reuters) - HSBC Holdings Plc

* On 8 March, HSBC Finance Corp & HSBC Bank USA, N.A. completed sale of portfolio of US first lien residential mortgage loans

* "sellers have received cash consideration of us$3.396bn"

* "proceeds will be used to pay down long-term debt and for general corporate purposes"

* Disposal of loan portfolio is expected to generate a pre-tax gain on sale, after associated costs, of approximately us$150m. Source text for Eikon: Further company coverage:

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