Tentative issuance schedule for HKSAR Government Bonds under the Institutional Bond Issuance Programme

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), published today (30 September) a tentative issuance schedule for Government Bonds (GBs) offered under the Institutional Bond Issuance Programme for the next six-month period from October 2021 to March 2022 (Annex). The schedule contains information on, among others, the tentative tenors, tender dates, issuance sizes, issue dates and method of issuance of individual GB issues. Further details on the methods of issuance are set out in the Information Memorandum available on the Government Bond Programme’s website, https://www.hkgb.gov.hk.

In line with the market development efforts of alternative reference rate (ARR)-linked products across the global markets, the HKMA will issue Floating Rate Notes (FRNs) indexed to the Hong Kong Dollar Overnight Index Average (HONIA) through tendering under the Institutional Bond Issuance Programme to facilitate the adoption and usage of HONIA as an ARR in Hong Kong. Details of the tenders would be announced in relevant tender notices. For the avoidance of doubt, Hong Kong adopts the multiple-rate approach, where both the Hong Kong Interbank Offered Rate (HIBOR) and HONIA are expected to co-exist.

The issuance schedule is normally published on a half-yearly basis. It should be noted that the tenors, tender dates, issuance sizes, issue dates and methods of issuance in the issuance schedule are tentative. The HKMA may make adjustments in the light of prevailing market conditions. A revised issuance schedule may be issued where appropriate. Other details of individual issues are to be confirmed and announced at least four business days prior to the scheduled tender dates.

Hong Kong Monetary Authority
30 September 2021