The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced that a tender of 20-year HKD institutional Government Bonds through the re-opening of existing Government Bond (issue number 20GB4503001) under the Infrastructure Bond Programme was held today (August 20).

     A total of HK$0.5 billion 20-year Government Bonds were offered today. A total of HK$2.48175 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 4.96. The average price accepted is 103.02, implying an annualised yield of 3.806 per cent.

HKSAR Institutional Government Bonds Tender Results

     Tender results of 20-year HKD HKSAR Institutional Government Bonds:
 

Tender Date	:	August 20, 2025
Issue Number	:	20GB4503001 (Re-open)
Stock Code	:	4290 (HKGB 3.99 4503)
Issue and Settlement Date	:	August 21, 2025
Tenor	:	20 years
Maturity Date	:	March 6, 2045
Coupon Rate	:	3.99 per cent
Amount Applied	:	HK$2.48175 billion
Amount Allotted	:	HK$0.5 billion
Bid-to-Cover Ratio*	:	4.96
Average Price Accepted (Yield)	:	103.02 (3.806 per cent)
Lowest Price Accepted (Yield)	:	102.42 (3.850 per cent)
Pro-rata Ratio	:	About 46 per cent
Average Tender Price (Yield)	:	100.35 (4.003 per cent)

* Calculated as the amount of bonds applied for over the amount of bonds issued.

Ends/Wednesday, August 20, 2025
Issued at HKT 17:05

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