Government launches iBond
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The target issuance size of the latest batch of the iBond is HK$15 billion. The Government may increase the issuance size to a maximum of HK$20 billion having regard to market condition. The bond will have a tenor of three years. Bond holders will be paid interest once every six months at a rate linked to inflation in Hong Kong, subject to a minimum rate of 2 per cent.
The subscription period of the iBond will start from 9am on June 1 and end at 2pm on June 11. Hong Kong residents may apply for the iBond through a placing bank, securities broker or the Hong Kong Securities Clearing Company Limited.
The iBond will be issued on June 23 and listed on the Stock Exchange of Hong Kong on the following business day (June 24). It can be traded in the secondary market afterwards.
"The iBond has been well received by citizens for providing a safe investment choice with a steady return. The increase in issuance size will allow more citizens to participate in bond issuances, thereby promoting the further development of the local retail bond market," the Financial Secretary, Mr Paul Chan, said.
Details of the offering terms and subscription arrangements of the iBond are available at the Government Bond Programme's website (www.hkgb.gov.hk).
Ends/Wednesday, May 12, 2021
Issued at HKT 16:30
Issued at HKT 16:30
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