JBIC sells mammoth $2.5bn bond

The treasury has raised over $1bn in one day for the two and a half year offering.

The oversubscribed Euro offering is in three tranches of 8, 12 and 20 years, and follows green bond issuances in Hong Kong and Australia in H1 2026.

The HK$20bn issuance, denominated in multiple currencies, is a global record for the largest digital bond.

HKMC’s inaugural public digital bond is the largest digital bond issuance globally to date and the first from a public-sector entity in Hong Kong.

The government bond was priced at a 5.95% yield, tightening from an initial guidance of around 6.3%.

One of the region's most liquid but conservative markets is showing signs of moving down the credit curve again, although borrowers are still advised to adopt a step-by-step approach to issuance.