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The Government announced today (May 28) the launch of the third inflation-linked retail bond, or iBond, under the retail part of the Government Bond Programme for subscription by Hong Kong residents in June.
"Following the enthusiastic responses of local residents towards the first two iBond issuances in July 2011 and June 2012, the third iBond issuance aims to maintain the growth momentum of the local retail bond market through further enhancing the investing public's awareness of and interest in bonds," the Secretary for Financial Services and the Treasury, Professor K C Chan, said at the launch press conference.
The maximum size of the third iBond issuance will be $10 billion. It will have a tenor of three years and the bond holders will be paid interest once every six months at a rate linked to inflation in Hong Kong, subject to a minimum rate of 1.00 per cent.
The subscription period of iBond will start from 9am on June 4 and end at 2pm on June 13. Hong Kong residents may apply for iBond through any of the placing banks, securities brokers or the Hong Kong Securities Clearing Company Limited.
iBond will be issued on June 24 and listed on the Stock Exchange of Hong Kong on the following business day (June 25).
Details of the offering terms and subscription arrangements of iBond are available at the Government Bond Programme's website (www.hkgb.gov.hk/en/retail/retail.html).
Ends/Tuesday, May 28, 2013
Issued at HKT 14:45
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