As expected, Capital One (COF) is to buy HSBC's (HBC) U.S. credit-card ops for about $2.6B. At...


As expected, Capital One (COF) is to buy HSBC's (HBC) U.S. credit-card ops for about $2.6B. At the close of the deal, Capital One may raise up to $1.25B in equity to maintain a Tier 1 capital ratio of around 9.5%. It retains the option of issuing $750M of the new shares to HSBC at $39.23 each. (PR)

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