Tender for re-opening of 10-year HKD HKSAR Institutional Government Bonds to be held on November 5
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The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (October 30) that a tender of 10-year HKD institutional Government Bonds (Bonds) through the re-opening of existing 10-year Government Bond issue 10GB3507001 under the Infrastructure Bond Programme will be held on Wednesday, November 5, 2025, for settlement on Thursday, November 6, 2025.
An additional amount of HK$1.0 billion of the outstanding 10-year Bonds (issue no. 10GB3507001) will be on offer. The Bonds will mature on July 24, 2035, and will carry interest at the rate of 3.17 per cent per annum payable semi-annually in arrear. The Indicative Pricings of the Bonds on October 30, 2025, are 102.81 with an annualised yield of 2.857 per cent.
Tender is open only to Primary Dealers appointed under the Infrastructure Bond Programme. Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the latest published list, which can be obtained from the Hong Kong Government Bonds website at www.hkgb.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof.
Tender results will be published on the HKMA's website, the Hong Kong Government Bonds website, Bloomberg (GBHK <GO>) and Refinitiv (IBPGSBPINDEX). The publication time is expected to be no later than 3.00 pm on the tender day.
HKSAR Institutional Government Bonds Tender Information
Tender information of 10-year HKD HKSAR Institutional Government Bonds:
| Issue Number | : | 10GB3507001 |
| Stock Code | : | 4294 (HKGB 3.17 3507) |
| Tender Date and Time | : | Wednesday, November 5, 2025 9.30 am to 10.30 am |
| Issue and Settlement Date | : | Thursday, November 6, 2025 |
| Amount on Offer | : | HK$1.0 billion |
| Maturity | : | 10 years |
| Remaining maturity | : | Approximately 9.72 years |
| Maturity Date | : | Tuesday, July 24, 2035 |
| Interest Rate | : | 3.17 per cent p.a. payable semi-annually in arrear |
| Interest Payment Dates | : | January 24 and July 24 in each year, commencing on the Issue Date up to and including the Maturity Date, subject to adjustment in accordance with the terms of the Institutional Issuances Information Memorandum of the Infrastructure Bond Programme and Government Sustainable Bond Programme (Information Memorandum) published on the Hong Kong Government Bonds website. |
| Method of Tender | : | Competitive tender |
| Tender Amount | : | Each competitive tender must be for an amount of HK$50,000 or integral multiples thereof. Any tender applications for the Bonds must be submitted through a Primary Dealer on the latest published list. The accrued interest to be paid by successful bidders on the issue date (November 6, 2025) for the tender amount is HK$455.96 per minimum denomination of HK$50,000. (The accrued interest to be paid for tender amount exceeding HK$50,000 may not be exactly equal to the figures calculated from the accrued interest per minimum denomination of HK$50,000 due to rounding). |
| Other Details | : | Please see the Information Memorandum available on the Hong Kong Government Bonds website or approach Primary Dealers. |
| Expected commencement date of dealing on the Stock Exchange of Hong Kong Limited |
: | The tender amount is fully fungible with the existing 10GB3507001 (Stock code: 4294) listed on the Stock Exchange of Hong Kong. |
| Use of Proceeds | : | The Bonds will be issued under the institutional part of the Infrastructure Bond Programme. Proceeds will be invested in infrastructure projects in accordance with the Infrastructure Bond Framework published on the Hong Kong Government Bonds website. |
Ends/Thursday, October 30, 2025
Issued at HKT 17:00
Issued at HKT 17:00
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