The Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority held a press conference today (Nov. 15) to announce the issuance of the retail infrastructure bonds.
The target issuance size of the retail infrastructure bond is HK$20 billion, with each lot offered at HK$10,000 and a tenor of three years.
The subscription period will run from 9 a.m. on Nov. 26 to 2 p.m. on Dec. 6. The allocation results will be announced on Dec. 13, and the bond will be listed on the Stock Exchange of Hong Kong on Dec. 18.
This issuance is the retail part of the Infrastructure Bond Programme. Proceeds will be credited to the Capital Works Reserve Fund for investment in infrastructure projects in accordance with the Programme framework. The Government will publish information on the allocation of the proceeds on an annual basis.
The bonds will offer two types of interest rates: a floating rate (linked to inflation) or a fixed rate of 3.5%, with interest payments made semi-annually based on the higher of the two rates.
Related News:
Comment