Tender of 15-year HKD HKSAR Institutional Government Bonds through Re-opening
Summary
The Hong Kong Monetary Authority (HKMA), as representative of the HKSAR Government, announced a tender of HK$1.0 billion in 15-year HKD Institutional Government Bonds through re-opening of issue 15GB3912001 under the Infrastructure Bond Programme. The tender is scheduled for Wednesday, 22 April 2026, for settlement on Thursday, 23 April 2026. The bonds carry an interest rate of 3.75% per annum payable semi-annually and mature on 5 December 2039.
What changed
The HKMA announced an additional HK$1.0 billion of outstanding 15-year Government Bond issue 15GB3912001 will be offered through competitive tender on 22 April 2026. The bonds, with remaining maturity of approximately 13.63 years, carry a 3.75% per annum coupon payable semi-annually, with indicative pricing of 106.35 and annualised yield of 3.197% as of 20 April 2026. Tender participation is restricted to Primary Dealers appointed under the Infrastructure Bond Programme; minimum tender amount is HK$50,000 or integral multiples thereof. Proceeds will be invested in infrastructure projects per the Infrastructure Bond Framework. Results will be published no later than 3:00 pm on the tender day.
For Primary Dealers and institutional investors, this is a standard government bond auction under the Infrastructure Bond Programme with no new compliance obligations. The tender details are available via the Hong Kong Government Bonds website, and results will be disseminated through HKMA's website, Bloomberg (GBHK
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Tender of 15-year HKD HKSAR Institutional Government Bonds through re-opening to be held on Wednesday, 22 April 2026
Press Releases
20 Apr 2026
Tender of 15-year HKD HKSAR Institutional Government Bonds through re-opening to be held on Wednesday, 22 April 2026
The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (20 April) that a tender of 15-year HKD institutional Government Bonds (Bonds) through the re-opening of existing 15-year Government Bond issue 15GB3912001 under the Infrastructure Bond Programme will be held on Wednesday, 22 April 2026, for settlement on Thursday, 23 April 2026.
An additional amount of HK$1.0 billion of the outstanding 15-year Bonds (issue no. 15GB3912001) will be on offer. The Bonds will mature on 5 December 2039 and will carry interest at the rate of 3.75% per annum payable semi-annually in arrear. The Indicative Pricings of the Bonds on 20 April 2026 are 106.35 with an annualised yield of 3.197%.
Tender is open only to Primary Dealers appointed under the Infrastructure Bond Programme. Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the latest published list, which can be obtained from the Hong Kong Government Bonds website at https://www.hkgb.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof.
Tender results will be published on the HKMA’s website, the Hong Kong Government Bonds website, Bloomberg (GBHK
Hong Kong Monetary Authority
20 April 2026
HKSAR INSTITUTIONAL GOVERNMENT BONDS TENDER INFORMATION
Tender information of 15-year HKD HKSAR Institutional Government Bonds:-
| Issue Number | : | 15GB3912001 |
|---|---|---|
| Stock Code | : | 4287 (HKGB 3.75 3912) |
| Tender Date and Time | : | Wednesday, 22 April 2026 |
9:30 am to 10:30 am |
| Issue and Settlement Date | : | Thursday, 23 April 2026 |
| Amount on Offer | : | HK$1.0 billion |
| Maturity | : | 15 years |
| Remaining maturity | : | Approximately 13.63 years |
| Maturity Date | : | Monday, 5 December 2039 |
| Interest Rate | : | 3.75% p.a. payable semi-annually in arrear |
| Interest Payment Dates | : | 5 June and 5 December in each year, commencing on the Issue Date up to and including the Maturity Date, subject to adjustment in accordance with the terms of the Institutional Issuances Information Memorandum of the Infrastructure Bond Programme and Government Sustainable Bond Programme (Information Memorandum) published on the Hong Kong Government Bonds website. |
| Method of Tender | : | Competitive tender |
| Tender Amount | : | Each competitive tender must be for an amount of HK$50,000 or integral multiples thereof. Any tender applications for the Bonds must be submitted through a Primary Dealer on the latest published list.
The accrued interest to be paid by successful bidders on the issue date (23 April 2026) for the tender amount is HK$714.04 per minimum denomination of HK$50,000.
(The accrued interest to be paid for tender amount exceeding HK$50,000 may not be exactly equal to the figures calculated from the accrued interest per minimum denomination of HK$50,000 due to rounding). |
| Other Details | : | Please see Information Memorandum available on the Hong Kong Government Bonds website or approach Primary Dealers. |
| Expected commencement date of dealing on
the Stock Exchange
of Hong Kong Limited | : | The tender amount is fully fungible with the existing 15GB3912001 (Stock code: 4287) listed on the Stock Exchange of Hong Kong. |
| Use of Proceeds | : | The Bonds will be issued under the institutional part of the Infrastructure Bond Programme. Proceeds will be invested in infrastructure projects in accordance with the Infrastructure Bond Framework published on the Hong Kong Government Bonds website. |
Hong Kong Monetary Authority
20 April 2026
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View All View All Last revision date : 20 April 2026 Share
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