hsba201310086k.htm
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a - 16 or 15d - 16 of
the Securities Exchange Act of 1934
For the month of October
HSBC Holdings plc
42nd Floor, 8 Canada Square, London E14 5HQ, England
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F).
Form 20-F X Form 40-F ......
(Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934).
Yes....... No X
(If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ..............).
8 October 2013
HSBC SELLS PORTFOLIO OF NON-PERFORMING LOANS TO PARAGON
HSBC Bank plc, a wholly-owned subsidiary of HSBC Holdings plc ('HSBC'), has today sold a portfolio of non-performing personal unsecured and secured loans (the 'portfolio') to the Paragon Group of Companies PLC ('Paragon') for a total cash consideration of £13.5 million (approximately US$21.8m).
The portfolio is made up of loans from HFC Bank Limited, an indirectly wholly-owned subsidiary of HSBC that was put into rubn off in 2009.
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Media enquiries to:
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Patrick Humphris
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+44 (0) 20 7992 1631
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patrick.humphris@hsbc.com
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Note to editors:
The HSBC Group
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 6,600 offices in 80 countries and territories in Europe, the Asia-Pacific region, North and Latin America, and the Middle East and North Africa. With assets of US$2,645bn at 30 June 2013, the HSBC Group is one of the world's largest banking and financial services organisations.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
HSBC Holdings plc
By:
Name: Ben J S Mathews
Title: Group Company Secretary