Hong Kong to conduct switch-tender offer for 10-year bonds

Chicago, Oct. 10 – Hong Kong will conduct a switch-tender offer on Oct. 19, according to a press release.

The government will reopen the 10-year government bond (10GB2601) and will allow for the early redemption of existing government bonds (15GB3603).

There will be HK$600 million of the new bonds on offer.

The new bonds will have a 1.68% interest rate and mature on Jan. 21, 2026.

The indicative pricings of the bonds on Monday was 93.1 with an annualized yield of 3.981%.

Successful bidders will be required to deliver their existing bonds for early redemption at 78.51.

Existing holders can apply through the new bonds through appointed primary dealers.

Settlement will be on Oct. 20.

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