Press Release

 Email this articleGovernment Homepage

Speech by the Financial Secretary


Following is the speech by the Financial Secretary, Mr Henry Tang, at the HKSAR Government Global Bond Offering Listing Ceremony at the Hong Kong Stock Exchange this (July 27) morning:

Distinguished guests, members of the Stock Exchange of Hong Kong, ladies and gentlemen,

It gives me great pleasure to be here speaking to you today at the listing ceremony of the Hong Kong Special Administrative Region Government inaugural bond listing.

As well as being the first of its kind, this offering is also the largest in three aspects. First, it is the largest scale bond offering, involving two currencies and available to both retail and institutional investors, in the region. Second, it has attracted the largest size of subscription in retail bond offering to date. Third, it mobilised the largest retail network in history, involving more than 1,100 branches of 23 local banks and hundreds of securities brokers in the retail offering. Here, I would like to thank the local brokerage community for your support in this endeavour.

With the support of the Joint Global Coordinators and Bookrunners, the placing banks and brokers, the HKSAR Government has successfully launched, issued and listed its first $20 billion Global Bond Offering. The transaction was enthusiastically greeted by international as well as local investors. The high level of support for this issue is good news because it confirms the high regard Hong Kong's government bonds have in the international investment community. It also reflects how receptive the local retail investors are to new products with good credit worthiness and stable income.

To complete a maiden global bond offering in just five weeks' time from the selection of arrangers to launching of roadshows is itself a record in the issuance of government bonds. Our success in this offering demonstrates that Hong Kong has the expertise and infrastructure to undertake such transactions in the future and will help strengthen our position as an international financial centre.

I would like to thank the Global Joint Coordinators and Bookrunner, the placing banks and other parties who have helped to make this transaction a success. Thank you very much.

Ends/Tuesday, July 27, 2004


News clip ________________________________________________

The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy the securities of HKSAR Government in the United States. HKSAR Government's securities may not be offered or sold in the United States absent registration under the United States Securities Act of 1933 or an exemption from registration. Any public offering of securities in the United States will be made by means of an offering circular that can be obtained from the HKSAR Government, and the offering circular will contain detailed information about the HKSAR Government. No money, securities or other consideration is being solicited by this document.

The information contained herein also does not constitute an offer to sell or a solicitation of an offer to buy HKSAR Government's securities nor shall there be any sale of such securities in any state or country in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or country.

Email this article