Hong Kong sovereign goes down a storm

Government prices institutional Hong Kong dollar portion of benchmark bond deal as typhoon lashes Territory.

The Hong Kong government extended its own yield curve on Friday after pricing the institutional tranches of its landmark Hong Kong and US dollar denominated bond deal. Both the five and 15-year Hong Kong dollar tranches came at the tight end of pricing having attracted comfortable levels of oversubscription.

Lead managers were BOCI, Citigroup, HSBC and Merrill Lynch.

Having set out with a minimum size of HK$3 billion for the five-year tranche, the government increased it to HK$3.5 billion after attracting an order book of HK$6.2 billion. The deal was priced at 99.851% on a coupon of 3.75% to yield 3.783%.

...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222