Hong Kong Prepares for 5-Year Government Bond Reopening

The Hong Kong Monetary Authority (HKMA) has announced a tender for the re-opening of 5-year Hong Kong Dollar (HKD) Institutional Government Bonds. This tender, representing the Hong Kong Special Administrative Region Government, is scheduled for August 13, 2025, with settlement on the following day, according to the HKMA.

Bond Details

The bonds in question are part of the existing 5-year Government Bond issue 05GB3005002, under the Infrastructure Bond Programme. An additional HK$1.25 billion in bonds will be offered, maturing on May 15, 2030. These bonds will carry an interest rate of 2.70% per annum, payable semi-annually. On August 7, 2025, the indicative pricing was noted at 102.25 with an annualized yield of 2.212%.

Tender Process

This tender is exclusively open to Primary Dealers appointed under the Infrastructure Bond Programme. Interested parties can apply through any Primary Dealer listed on the Hong Kong Government Bonds website. Each tender must be for an amount of HK$50,000 or its multiples. Tender results will be published on several platforms, including the HKMA’s website and Bloomberg, by 3:00 pm on the tender day.

Investment and Trading

The proceeds from these bonds will be allocated to infrastructure projects, aligning with the Infrastructure Bond Framework. The bonds are fully fungible with the existing bonds listed on the Stock Exchange of Hong Kong, facilitating their trading post-issuance.

For comprehensive tender details and the list of Primary Dealers, stakeholders are encouraged to visit the HKMA website.

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