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Tender results of the re-opening of 3-year RMB HKSAR Institutional Government Bonds

Press Releases

06 Nov 2025

Tender results of the re-opening of 3-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 of 3-year RMB institutional Government Bonds through the re-opening of existing Government Bond (issue number 03GB2807001) under the Infrastructure Bond Programme was held today (6 November).

A total of RMB1.0 billion 3-year Government Bonds were offered today. A total of RMB4.81 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 4.81. The average price accepted is 99.63, implying an annualised yield of 1.737%.

 

Hong Kong Monetary Authority
6 November 2025

 

HKSAR INSTITUTIONAL GOVERNMENT BONDS TENDER RESULTS

Tender results of 3-year RMB HKSAR Institutional Government Bonds:-

Tender Date

:

6 November 2025

Issue Number

:

03GB2807001 (Re-open)

Stock Code

:

85039 (HKGB1.59 2807-R)

Issue and Settlement Date

:

10 November 2025

Tenor

:

3 years

Maturity Date

:

28 July 2028

Coupon Rate

:

1.59%

Amount Applied

:

RMB4.81 billion

Amount Allotted

:

RMB1.0 billion

Bid-to-Cover Ratio*

:

4.81

Average Price Accepted (Yield)

:

99.63 (1.737%1)

Lowest Price Accepted (Yield)

:

99.61 (1.745%1)

Pro-rata Ratio

:

About 100%

Average Tender Price (Yield)

:

99.45 (1.806%1)

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

 

Hong Kong Monetary Authority
6 November 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 1.729%, 1.738%, and 1.798% respectively.

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Last revision date : 06 November 2025