HKMA to Reopen 10-Year HKD Bonds, Tender on June 24
James Ding Jun 17, 2026 09:49
HKMA announces a HK$1.25B re-opening of 10-year HKD bonds on June 24, 2026, offering 3.17% annual interest under Infrastructure Bond Programme.
The Hong Kong Monetary Authority (HKMA) will hold a tender for the re-opening of its 10-year Hong Kong dollar (HKD) institutional government bonds on Wednesday, June 24, 2026. This issuance, conducted under the Infrastructure Bond Programme, will offer an additional HK$1.25 billion of the outstanding issue (10GB3507001). The bonds carry an annual coupon rate of 3.17%, with settlement scheduled for June 25, 2026.
The bonds, maturing on July 24, 2035, are priced at 99.41 as of June 17, 2026, reflecting an annualized yield of 3.271%. Tender participation is restricted to Primary Dealers, with applications starting at HK$50,000 or its multiples. The accrued interest for successful bidders on the settlement date will amount to HK$651.37 per minimum denomination of HK$50,000. Results will be published by 3:00 pm on the tender day via the HKMA website, Bloomberg (GBHK <GO>), and Refinitiv.
This issuance aligns with Hong Kong’s broader strategy of using its bond market to finance long-term infrastructure development and sustainable projects. Recent data highlights the increasing scale of the program: the 2025–26 budget projected annual bond issuances of HK$150–195 billion over five years, supporting key economic initiatives. The proceeds from this tender will similarly fund infrastructure projects under the Infrastructure Bond Framework.
The HKMA has maintained a steady pace of bond issuances in recent years, with the last 10-year HKD bond re-opening held on July 23, 2025. In a similar 2026 issuance on April 23, the HKMA reopened 10-year RMB bonds, achieving a bid-to-cover ratio of 6.82x, underscoring robust demand for its debt instruments. The government’s multi-year bond strategy also aims to provide institutional investors with benchmark yield curves while strengthening Hong Kong’s position as a regional financial hub.
For investors, the 3.17% coupon offers a relatively attractive yield in the current low-interest rate environment. With remaining maturity of approximately 9.08 years, these bonds may appeal to institutions seeking medium-term fixed-income exposure with semi-annual payouts. Market participants will be watching tender results closely for any indication of demand dynamics or pricing shifts in Hong Kong’s bond market.
Tender details and the latest list of Primary Dealers are available on the Hong Kong Government Bonds website.
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