8-K 1 form8k20072.htm

 

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) – October 11, 2007

_________________

HSBC CREDIT CARD MASTER NOTE TRUST (USA) I

(Exact name of issuing entity as specified in its charter)

Commission File Number: 333-134419-01

HSBC RECEIVABLES FUNDING INC. I

(Exact name of depositor as specified in its charter)

Commission File Number: 333-134419

DELAWARE

88-0471289

(State or other jurisdiction of

Incorporation of Depositor)

(IRS Employer Identification

No of Depositor)


1111 Town Center Drive, Las Vegas, Nevada
(Address of principal executive offices of Depositor)


89144
(Zip Code)

 

 

 

(702) 243-1341
(Depositor’s telephone number, including area code)

_________________

 

Not Applicable

(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 (see General Instruction A.2 below):

o

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

o

Solicitation material pursuant to Rule 14a12 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 240.24d-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.

 

On October 11, 2007, HSBC Credit Card Master Note Trust (USA) I (the “Trust”) issued $600,000,000 in aggregate principal amount of Series 2007-2 Class A Floating Rate Asset Backed Notes (the “Class A Notes”) and $64,140,000 in aggregate principal amount of Series 2007-2 Class B Floating Rate Asset Backed Notes (the “Class B Notes”, and together with the Class A Notes, the “Notes”).

The Notes were issued pursuant to the Series 2007-2 Indenture Supplement, dated as of October 11, 2007 (attached hereto as Exhibit 4), between Wilmington Trust Company, not in its individual capacity but solely as owner trustee on behalf of the Trust, and Wells Fargo Bank, National Association, as indenture trustee.

Also in connection with the issuance of the Class A Notes, on October 2, 2007, HSBC Receivables Funding Inc. I, the depositor of the Trust (the “Depositor”), entered into an Underwriting Agreement (attached hereto as Exhibit 1), among HSBC Finance Corporation, as servicer, the Depositor and HSBC Securities (USA) Inc., as representative of the underwriters.

 

Item 9.01      FINANCIAL STATEMENTS AND EXHIBITS.

 

(d) Exhibits.

Exhibit
Number

Exhibit

 

 

1

$600,000,000 Series 2007-2 Class A Floating Rate Asset Backed Notes Underwriting Agreement, dated October 2, 2007, among HSBC Finance Corporation, HSBC Receivables Funding Inc. I and HSBC Securities (USA) Inc., as representative of the underwriters.

 

 

4

Series 2007-2 Indenture Supplement, dated as of October 11, 2007, between Wilmington Trust Company, not in its individual capacity but solely as owner trustee on behalf of HSBC Credit Card Master Note Trust (USA) I, and Wells Fargo Bank, National Association, as indenture trustee.

 

 

5

Opinion of McDermott Will & Emery LLP with respect to enforceability of the Class A Notes.

 

 

8

Opinion of McDermott Will & Emery LLP with respect to tax matters of the Class A Notes.

 

 

23.1

Consent of McDermott Will & Emery LLP (included in Exhibit 5).

 

 

23.2

Consent of McDermott Will & Emery LLP (included in Exhibit 8).

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Depositor has duly caused this report to be signed on behalf of the undersigned hereunto duly authorized.

HSBC RECEIVABLES FUNDING INC. I

as Depositor

(Registrant)

 

By: /s/ Cheryl F. Steffens

Name: Cheryl F. Steffens

Title: Vice President and Assistant Treasurer

Dated: October 11, 2007

 

 

EXHIBIT INDEX

 

 

Exhibit
Number

Exhibit

 

 

1

$600,000,000 Series 2007-2 Class A Floating Rate Asset Backed Notes Underwriting Agreement, dated October 2, 2007, among HSBC Finance Corporation, HSBC Receivables Funding Inc. I and HSBC Securities (USA) Inc., as representative of the underwriters.

 

 

4

Series 2007-2 Indenture Supplement, dated as of October 11, 2007, between Wilmington Trust Company, not in its individual capacity but solely as owner trustee on behalf of HSBC Credit Card Master Note Trust (USA) I, and Wells Fargo Bank, National Association, as indenture trustee.

 

 

5

Opinion of McDermott Will & Emery LLP with respect to enforceability of the Class A Notes.

 

 

8

Opinion of McDermott Will & Emery LLP with respect to tax matters of the Class A Notes.

 

 

23.1

Consent of McDermott Will & Emery LLP (included in Exhibit 5).

 

 

23.2

Consent of McDermott Will & Emery LLP (included in Exhibit 8).