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HK Govt Issues $50B Silver Bonds; Guaranteed Interest Rate from 4%
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The Hong Kong Government held a press conference on Silver Bonds to announce the launch of a new tranche of Silver Bonds for subscription by eligible Hong Kong residents. The target issuance size of the Silver Bonds is $50 billion, with a board lot size of $10,000 and a maturity of three years. Interests will be paid semi-annually at a rate linked to local inflation and guaranteed not to be less than 4%. The Bonds will be available to Hong Kong residents with a valid Hong Kong Identity Card aged 60 or above on or before 2025. Subject to the subscription response, the Government will exercise discretion to adjust the target issuance size upwards from the original $50 billion to a maximum of $55 billion. The subscription period for the Silver Bonds starts at 9:00 a.m. on September 30 and ends at 2:00 p.m. on October 14, and the issue will be launched on October 23. Eligible Hong Kong residents can subscribe for the bonds through placing banks and designated stockbrokers. AAStocks Financial News |
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