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

     The Hong Kong Monetary Authority, 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 (July 22).
      
     A total of HK$1.0 billion 20-year Government Bonds were offered today. A total of HK$6.47995 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 6.48. The average price accepted is 97.27, implying an annualised yield of 4.246 per cent.

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

Tender Date	:	July 22, 2026
Issue Number	:	20GB4503001 (Re-open)
Stock Code	:	4290 (HKGB 3.99 4503)
Issue and Settlement Date	:	July 23, 2026
Tenor	:	20 years
Maturity Date	:	March 6, 2045
Coupon Rate	:	3.99 per cent
Amount Applied	:	HK$6.47995 billion
Amount Allotted	:	HK$1.0 billion
Bid-to-Cover Ratio*	:	6.48
Average Price Accepted (Yield)	:	97.27 (4.246 per cent)
Lowest Price Accepted (Yield)	:	97.10 (4.261 per cent)
Pro-rata Ratio	:	About 54 per cent
Average Tender Price (Yield)	:	95.31 (4.408 per cent)

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

Ends/Wednesday, July 22, 2026
Issued at HKT 17:30

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