Hong Kong Monetary Authority Announces Tender for 15-Year HKD Government Bonds
The Hong Kong Monetary Authority (HKMA), acting on behalf of the Hong Kong Special Administrative Region Government, has announced a tender for 15-year HKD Institutional Government Bonds. This tender, part of the Infrastructure Bond Programme, is scheduled for December 4, 2024, with settlement on December 5, 2024, as stated by the HKMA.
Details of the Bond Issue
The bond issue will amount to HK$0.5 billion, maturing on December 5, 2039. These bonds are set to carry an interest rate of 3.75% per annum, payable semi-annually. This issuance is targeted exclusively at Primary Dealers appointed under the Infrastructure Bond Programme. Potential applicants can submit their tenders through Primary Dealers listed on the Hong Kong Government Bonds website.
Tender Process and Results
The competitive tender process will take place from 9:30 am to 10:30 am on the tender day. Each bid must be for a minimum of HK$50,000 or its multiples. The results of the tender will be made public on the HKMA’s website, as well as Bloomberg and Refinitiv platforms, by no later than 3:00 pm on the same day.
Bond Characteristics and Use of Proceeds
The bonds, identified by issue number 15GB3912001 and stock code 4287 (HKGB 3.75 3912), will commence trading on the Hong Kong Stock Exchange on December 6, 2024. The interest on these bonds will be paid on June 5 and December 5 each year, starting from the issue date. The proceeds from this bond issue will be directed towards funding infrastructure projects as outlined in the Infrastructure Bond Framework accessible on the Hong Kong Government Bonds website.
Additional Information
For further details regarding the bonds, including the Institutional Issuances Information Memorandum, interested parties can visit the Hong Kong Government Bonds website. The Information Memorandum contains comprehensive terms and conditions governing the issuance and trading of these bonds.
For more information, visit the Hong Kong Monetary Authority.