Hong Kong Monetary Authority Announces Tender for 3-Year RMB Bonds

James Ding Oct 21, 2024 19:13

The Hong Kong Monetary Authority will conduct a tender for 3-year RMB Institutional Government Bonds on October 24, 2024, with a total offer of RMB1.0 billion and a 2.13% interest rate.

The Hong Kong Monetary Authority (HKMA), representing the Hong Kong Special Administrative Region Government, has announced the tender of 3-year RMB Institutional Government Bonds. This tender, scheduled for October 24, 2024, is part of the Infrastructure Bond Programme, with settlement on October 28, 2024, according to the Hong Kong Monetary Authority.

Tender Details

The bonds, totaling RMB1.0 billion, will carry an annual interest rate of 2.13%, payable semi-annually. The bonds will mature on October 28, 2027. The tender is exclusively open to Primary Dealers appointed under the Infrastructure Bond Programme. Interested parties can apply through these dealers, with each tender requiring a minimum amount of RMB50,000 or multiples thereof.

Publication and Trading

The results of the tender will be published on the HKMA’s website, the Hong Kong Government Bonds website, Bloomberg, and Refinitiv, no later than 3:00 pm on the day of the tender. Trading is expected to commence on the Stock Exchange of Hong Kong on October 29, 2024.

Investment and Use of Proceeds

The proceeds from the bonds will be allocated to infrastructure projects, following the guidelines of the Infrastructure Bond Framework. This initiative supports Hong Kong's ongoing infrastructure development and aligns with the government’s strategic financial goals.

Key Information

The HKMA's tender of RMB bonds underscores its commitment to supporting Hong Kong's financial stability and infrastructure growth. The bonds' competitive tender method ensures transparency and fairness in the allocation process.

• hong kong
• rmb bonds
• hkma
• government bonds