HKMA schedules RMB750 million reopening of 03GB2807001 bond issue

The Hong Kong Monetary Authority said on 15 October 2026 that it will reopen its 03GB2807001 institutional government bond issue for tender on 22 October, offering RMB750 million of the outstanding notes under the Infrastructure Bond Programme.

Evidence and context

According to the HKMA announcement, the tender is for 2-year RMB HKSAR institutional Government Bonds via the re-opening of the existing 3-year issue 03GB2807001, which carries a 1.59% annual coupon paid semi-annually and matures on 28 July 2028. The tender will run from 9:30 a.m. to 10:30 a.m. on 22 October 2026, with settlement on 26 October 2026. The issue is fully fungible with the listed bond carrying stock code 85039 (HKGB1.59 2807-R).

The HKMA said the indicative price on 15 October 2026 was 100.27, with a semi-annualised yield of 1.435%. It also said accrued interest due from successful bidders will be RMB196.03 per minimum denomination of RMB50,000 on the issue date, subject to rounding for larger orders. Tender applications must be submitted through appointed Primary Dealers and must be in RMB50,000 or integral multiples thereof.

Proceeds from the bond sale will be invested in infrastructure projects under the Infrastructure Bond Framework, the HKMA said. Tender results are expected to be published by 3:00 p.m. on the tender day on the HKMA website, the Hong Kong Government Bonds website, Bloomberg and Refinitiv.

In related background supplied with the announcement, the same issue was reopened on 13 August 2026, when RMB750 million was offered and bids totalled RMB5.350 billion, implying a bid-to-cover ratio of 7.13. The average accepted annualised yield then was 1.418%, which is a historical reference point and not a live market quote.