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Tender results of 2-year RMB HKSAR Institutional Government Bonds

Press Releases

14 Aug 2025

Tender results of 2-year RMB HKSAR Institutional Government Bonds

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced that a tender for 2-year RMB institutional Government Bonds (issue number 02GB2708001) under the Infrastructure Bond Programme was held today (14 August).

A total of RMB1.5 billion 2-year Government Bonds were offered today. A total of RMB4.906 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 3.27. The average price accepted is 99.95, implying an annualised yield of 1.574%.

 

Hong Kong Monetary Authority
14 August 2025

 

HKSAR INSTITUTIONAL GOVERNMENT BONDS TENDER RESULTS

Tender results of 2-year RMB HKSAR Institutional Government Bonds:-

Tender Date

:

14 August 2025

Issue Number

:

02GB2708001

Stock Code

:

85051 (HKGB1.54 2708-R)

Issue and Settlement Date

:

18 August 2025

Tenor

:

2 years

Maturity Date

:

18 August 2027

Coupon Rate

:

1.54%

Amount Applied

:

RMB4.906 billion

Amount Allotted

:

RMB1.5 billion

Bid-to-Cover Ratio*

:

3.27

Average Price Accepted (Yield)

:

99.95 (1.574%1)

Lowest Price Accepted (Yield)

:

99.88 (1.608%1)

Pro-rata Ratio

:

About 11%

Average Tender Price (Yield)

:

99.83 (1.635%1)

* Calculated as the amount of bonds applied for over the amount of bonds issued.

 

Hong Kong Monetary Authority
14 August 2025

 

 

1 The yields stated above are annualised yields.  For reference, the semi-annualised yields corresponding to the average price accepted, lowest price accepted, and average tender price are 1.568%, 1.601%, and 1.628% respectively.

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Last revision date : 14 August 2025