HKMA Announces Tender for 5-Year RMB Institutional Bonds
Darius Baruo Nov 29, 2024 02:15
The Hong Kong Monetary Authority is set to hold a tender for 5-year RMB Institutional Government Bonds on December 5, 2024, with a total offering of RMB1.0 billion.
The Hong Kong Monetary Authority (HKMA), representing the Hong Kong Special Administrative Region Government, has announced an upcoming tender for 5-year RMB Institutional Government Bonds. Scheduled for December 5, 2024, the tender will offer RMB1.0 billion in total, according to the Hong Kong Monetary Authority.
Details of the Bond Offering
The bonds, part of the Infrastructure Bond Programme, will mature on December 10, 2029, with an interest rate of 2.37% per annum, payable semi-annually. Tender participation is exclusive to Primary Dealers appointed under the programme. Each tender must be for an amount of RMB50,000 or integral multiples thereof. Interested parties can apply through any Primary Dealer listed on the Hong Kong Government Bonds website.
Publication and Settlement
The results of the tender will be available on the HKMA's website, the Hong Kong Government Bonds website, Bloomberg, and Refinitiv by 3:00 pm on the tender day. Settlement is scheduled for December 9, 2024, with trading on the Stock Exchange of Hong Kong expected to commence on December 10, 2024.
Use of Proceeds
Proceeds from this bond issuance will be allocated to infrastructure projects as per the Infrastructure Bond Framework. The bonds are issued under the institutional segment of the Infrastructure Bond Programme, indicating a strategic focus on long-term development initiatives.
For further information, prospective investors are advised to consult the Institutional Issuances Information Memorandum available on the Hong Kong Government Bonds website or contact a Primary Dealer.
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