Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
HK Govt Issues $20B Retail Infra Bond; Guaranteed Interest Rate at 3.5%
Recommend 18 Positive 16 Negative 17 |
||||
|
||||
|
The HK Government announced the launch of a retail infrastructure bond for subscription by Hong Kong residents. 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. Interest will be paid semi-annually at a rate linked to inflation in Hong Kong, subject to a minimum of 3.5%. This issuance is the retail part of the Infrastructure Bond Program. Proceeds will be credited to the Capital Works Reserve Fund for investment in infrastructure projects in accordance with the Program framework. The Government will publish information on the allocation of the proceeds on an annual basis. The subscription period of the retail infrastructure bond will start from 9am on November 26 and end at 2pm on December 6. Hong Kong residents may make applications through a placing bank, securities broker or the Hong Kong Securities Clearing Company Limited. The retail infrastructure bond will be issued on December 17 and listed on the Stock Exchange of Hong Kong on the following business day. It can be traded in the secondary market. To facilitate higher participation from Hong Kong residents, a maximum allocation of HK$1 million per investor will be stipulated, meaning that each investor will be allocated 100 lots of the bond at most. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
