Hong Kong Prepares for Tender of 10-Year RMB Government Bonds

Caroline Bishop
Nov 07, 2025 10:51

The Hong Kong Monetary Authority announces the re-opening of 10-year RMB HKSAR Institutional Government Bonds, with a tender scheduled for November 13, 2025.

The Hong Kong Monetary Authority (HKMA) has announced the re-opening of its 10-year RMB HKSAR Institutional Government Bonds, set to take place on November 13, 2025. This move is part of the Infrastructure Bond Programme, as per the statement from the HKMA, the representative for the Hong Kong Special Administrative Region Government.

Details of the Bond Re-Opening

The tender will offer an additional RMB1.0 billion of the outstanding 10-year Bonds, identified by the issue number 10GB3505001. These bonds will mature on May 15, 2035, and carry an interest rate of 2.29% per annum, paid semi-annually. The indicative pricing as of November 7, 2025, is 101.84, with a semi-annualised yield of 2.076%.

According to the HKMA, the tender is exclusively open to Primary Dealers under the Infrastructure Bond Programme. Interested parties can apply through Primary Dealers listed on the Hong Kong Government Bonds website. Each application must be for a minimum of RMB50,000 or multiples thereof.

Publication and Settlement Details

The tender results will be announced on the HKMA’s website, the Hong Kong Government Bonds website, Bloomberg, and Refinitiv, expected by 3:00 pm on the day of the tender. The bonds are scheduled for settlement on November 17, 2025.

Use and Impact of Proceeds

The proceeds from this issuance will be directed towards infrastructure projects, as outlined in the Infrastructure Bond Framework available on the Hong Kong Government Bonds website. The bonds will be fully fungible with existing bonds listed on the Stock Exchange of Hong Kong.

For more detailed information, interested parties are advised to consult the Information Memorandum available on the Hong Kong Government Bonds website or contact Primary Dealers directly.

For the original announcement, please visit the Hong Kong Monetary Authority.

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