Hong Kong Monetary Authority Unveils Results of 10-Year RMB Bond Re-Opening
Alvin Lang Aug 07, 2025 06:46
The Hong Kong Monetary Authority announced the successful tender of 10-year RMB HKSAR Institutional Government Bonds, revealing a strong bid-to-cover ratio of 4.58 and an annualized yield of 1.857%.
The Hong Kong Monetary Authority (HKMA), representing the Hong Kong Special Administrative Region Government (HKSAR Government), recently disclosed the results of a successful tender for 10-year RMB Institutional Government Bonds. According to the HKMA, this re-opening under the Infrastructure Bond Programme was met with substantial interest, receiving applications totaling RMB6.863 billion against an offered RMB1.5 billion.
Strong Demand and Competitive Bidding
The tender, held on August 7, 2025, demonstrated robust demand, reflected in a bid-to-cover ratio of 4.58. The average price accepted for the bonds was 103.93, translating to an annualized yield of 1.857%. The bonds, identified by issue number 10GB3505001, are set for issue and settlement on August 11, 2025, and will mature on May 15, 2035.
Bond Details and Market Implications
These 10-year government bonds come with a coupon rate of 2.29% and are traded under stock code 85024 (HKGB2.29 3505-R). The lowest price accepted at the tender was 103.66, yielding 1.887%, while the average tender price was 102.94, yielding 1.967%. The pro-rata ratio for the bonds was approximately 49%.
The issuance signals a continued confidence in Hong Kong's fiscal stability and the attractiveness of RMB-denominated assets. The strong demand underscores investors' trust in the HKSAR Government's creditworthiness and the strategic significance of the Infrastructure Bond Programme.
For more detailed information, visit the Hong Kong Monetary Authority.
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