-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, N35imxVyXLFlGrFhjtEma5o6AnlNusZzJxpLjVXjhK0jGL17KVuur+/7eyvbNuX3 yD84Pzox8u2rmtHEes4HvA== 0000354964-08-000083.txt : 20080605 0000354964-08-000083.hdr.sgml : 20080605 20080605133454 ACCESSION NUMBER: 0000354964-08-000083 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080530 ITEM INFORMATION: Other Events FILED AS OF DATE: 20080605 DATE AS OF CHANGE: 20080605 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HSBC Finance Corp CENTRAL INDEX KEY: 0000354964 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 861052062 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08198 FILM NUMBER: 08882548 BUSINESS ADDRESS: STREET 1: 224-544-2000 STREET 2: 26525 N. RIVERWOODS BLVD. CITY: METTAWA STATE: IL ZIP: 60045 BUSINESS PHONE: 224-544-2000 MAIL ADDRESS: STREET 1: 26525 N. RIVERWOODS BLVD. CITY: METTAWA STATE: IL ZIP: 60045 FORMER COMPANY: FORMER CONFORMED NAME: HSBC Finance CORP DATE OF NAME CHANGE: 20041215 FORMER COMPANY: FORMER CONFORMED NAME: HOUSEHOLD INTERNATIONAL INC DATE OF NAME CHANGE: 19920703 8-K 1 form8-k_hamp.htm ITEM 8.01

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________________________________

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 30, 2008

 

__________________________________

 

Commission file number 1-8198

 

HSBC FINANCE CORPORATION

(Exact name of registrant as specified in its charter)

 

 

Delaware

_____________________________________

(State of incorporation)

 

 

 

86-1052062

______________________________________________

(IRS Employer Identification Number)

26525 N. Riverwoods Boulevard

Mettawa, Illinois

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(Address of principal executive offices)

 

60045

_____________________
(Zip Code)

 

 

Registrant's telephone number, including area code (224) 544-2000

 

_________________________________________________________________________

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o  

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o  

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o  

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o  

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Item 8.01. Other Events.

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On May 30, 2008, a wholly owned subsidiary of the registrant sold all of the common stock of Household International Europe Limited, the holding company for the registrant’s United Kingdom operations, to HSBC Overseas Holdings (UK) Limited, a subsidiary of HSBC Holdings plc. The sales price was GBP 181 million (equivalent to approximately $359 million). With this sale, the registrant’s operations are now limited to North America. Because the sale of our United Kingdom operations is between affiliates under common control, the book value of the investment in our United Kingdom operations in excess of the consideration received which totaled approximately $590 million will be recorded as a decrease to common shareholder’s equity. Of this amount, approximately $210 million will be reflected as a decrease to additional paid in capital and approximately $380 million will be reflected as a decrease to foreign currency translation adjustments within other comprehensive income.

 

At April 30, 2008, assets of the United Kingdom business totaled $4.9 billion which consisted primarily of net receivables of $4.7 billion and liabilities of $4.0 billion which consisted primarily of amounts due to HSBC affiliates of $3.4 billion and long term debt of $245 million.

 

 

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SIGNATURES

 

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 hereunto duly authorized.

 

HSBC FINANCE CORPORATION
(Registrant)

 

 

By: /s/ Patrick D. Schwartz
Patrick D. Schwartz
Executive Vice President, Deputy General Counsel

and Corporate Secretary

 

Dated: June 5, 2008

 

 

 

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