15-Year HKD Bonds Tender, HK$1.0B Offered, 4.46 Bid-Cover
Summary
The HKMA announced the results of a 15-year HKD Government Bond tender held on 22 April 2026 under the Infrastructure Bond Programme, reopening issue number 15GB3912001. A total of HK$1.0 billion in bonds were offered, attracting HK$4.460 billion in applications, producing a bid-to-cover ratio of 4.46. The bonds were allotted at an average price of 105.06, implying an annualised yield of 3.313%, with maturity set for 5 December 2039 and a coupon rate of 3.75%.
“A total of HK$1.0 billion 15-year Government Bonds were offered today.”
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GovPing monitors HKMA Press Releases for new banking & finance regulatory changes. Every update since tracking began is archived, classified, and available as free RSS or email alerts — 73 changes logged to date.
What changed
The HKMA published the final results of a 15-year HKD Institutional Government Bond tender through re-opening of existing issue 15GB3912001 (Stock Code 4287). The auction attracted HK$4.460 billion in applications against an offer of HK$1.0 billion, yielding a 4.46 bid-to-cover ratio. The bonds were priced at an average of 105.06 with an implied annualised yield of 3.313% and a pro-rata allotment ratio of approximately 88%.
This is a routine government debt issuance announcement and does not create new compliance obligations. Market participants tracking HKD fixed-income supply or government bond programme activity may use these results for yield-curve analysis and investor-demand assessment.
Archived snapshot
Apr 23, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Results of 15-year HKD HKSAR Institutional Government Bonds tender through re-opening
Press Releases
22 Apr 2026
Results of 15-year HKD HKSAR Institutional Government Bonds tender through re-opening
The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced that a tender of 15-year HKD institutional Government Bonds through the re-opening of existing Government Bond (issue number 15GB3912001) under the Infrastructure Bond Programme was held today (22 April).
A total of HK$1.0 billion 15-year Government Bonds were offered today. A total of HK$4.460 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 4.46. The average price accepted is 105.06, implying an annualised yield of 3.313%.
Hong Kong Monetary Authority
22 April 2026
HKSAR INSTITUTIONAL GOVERNMENT BONDS TENDER RESULTS
Tender results of 15-year HKD HKSAR Institutional Government Bonds:-
| Tender Date | : | 22 April 2026 |
|---|---|---|
| Issue Number | : | 15GB3912001 (Re-open) |
| Stock Code | : | 4287 (HKGB 3.75 3912) |
| Issue and Settlement Date | : | 23 April 2026 |
| Tenor | : | 15 years |
| Maturity Date | : | 5 December 2039 |
| Coupon Rate | : | 3.75% |
| Amount Applied | : | HK$4.460 billion |
| Amount Allotted | : | HK$1.0 billion |
| Bid-to-Cover Ratio* | : | 4.46 |
| Average Price Accepted (Yield) | : | 105.06 (3.313%) |
| Lowest Price Accepted (Yield) | : | 104.76 (3.340%) |
| Pro-rata Ratio | : | About 88% |
| Average Tender Price (Yield) | : | 103.21 (3.482%) |
- Calculated as the amount of bonds applied for over the amount of bonds issued.
Hong Kong Monetary Authority
22 April 2026
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