HKMA Announces Interest Rate for Retail Green Bonds Due 2026

HKMA Press Releases

Published March 24th, 2026

Detected March 24th, 2026

Summary

The Hong Kong Monetary Authority (HKMA) announced the interest rate for the fifth payment of retail green bonds due 2026. The rate was determined to be 4.75% per annum, based on the higher of the prevailing Floating Rate and Fixed Rate.

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What changed

The Hong Kong Monetary Authority (HKMA), acting on behalf of the Hong Kong Special Administrative Region Government, has announced the specific interest rate for the fifth payment period of its retail green bonds maturing in 2026. The determined annual interest rate is 4.75%, which is the higher of the calculated Floating Rate (+1.28%) and the Fixed Rate (+4.75%). This announcement follows the methodology outlined in the bond's Issue Circular.

This notice is primarily informational for bondholders. The HKMA has provided the calculation basis for the Floating Rate, which is linked to the average year-on-year inflation rate of the Composite Consumer Price Index from September 2025 to February 2026. Investors should note that the fifth interest payment is scheduled for April 10, 2026, with this announced rate.

Source document (simplified)

Interest rate of fifth interest payment for series of retail green bonds due 2026

Press Releases

24 Mar 2026

Interest rate of fifth interest payment for series of retail green bonds due 2026

The Hong Kong Monetary Authority, as representative of the Hong Kong Special Administrative Region Government, announced today (24 March) the relevant per annum interest rate for the fifth interest payment of the series of retail green bonds due 2026 (Issue Number: 03GR2610R; Stock Code: 4273) (the Retail Green Bonds) issued under the Government Sustainable Bond Programme (previously known as the Government Green Bond Programme).

According to the Issue Circular dated 18 September 2023 for the Retail Green Bonds, the fifth interest payment of the Retail Green Bonds is scheduled to be made on 10 April 2026, and the relevant interest rate is scheduled to be determined and announced on 24 March 2026 as the higher of the prevailing Floating Rate and Fixed Rate.

On 24 March 2026, the Floating Rate and Fixed Rate are as follows:-

| Floating Rate: | +1.28% 1 |
| Fixed Rate: | +4.75% |
Based on the Floating Rate and Fixed Rate set out above, the relevant interest rate for the fifth interest payment is determined and announced as 4.75% per annum.

Hong Kong Monetary Authority
24 March 2026

| 1 | | Month | Year-on-year rates of change in the 2019/20-based
Composite Consumer Price Index (%) |
| --- | --- |
| September 2025 | +1.10 |
| October 2025 | +1.20 |
| November 2025 | +1.20 |
| December 2025 | +1.40 |
| January 2026 | +1.10 |
| February 2026 | +1.70 |
| Arithmetic Average | +1.28 | | Month | Year-on-year rates of change in the 2019/20-based
Composite Consumer Price Index (%) | September 2025 | +1.10 | October 2025 | +1.20 | November 2025 | +1.20 | December 2025 | +1.40 | January 2026 | +1.10 | February 2026 | +1.70 | Arithmetic Average | +1.28 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Month | Year-on-year rates of change in the 2019/20-based
Composite Consumer Price Index (%) | | | | | | | | | | | | | | | | |
| September 2025 | +1.10 | | | | | | | | | | | | | | | | |
| October 2025 | +1.20 | | | | | | | | | | | | | | | | |
| November 2025 | +1.20 | | | | | | | | | | | | | | | | |
| December 2025 | +1.40 | | | | | | | | | | | | | | | | |
| January 2026 | +1.10 | | | | | | | | | | | | | | | | |
| February 2026 | +1.70 | | | | | | | | | | | | | | | | |
| Arithmetic Average | +1.28 | | | | | | | | | | | | | | | | |
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