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Tender results of 2-year RMB HKSAR Institutional Government Bonds

Press Releases

13 Nov 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 02GB2711001) under the Infrastructure Bond Programme was held today (13 November).

A total of RMB1.25 billion 2-year Government Bonds were offered today. A total of RMB7.650 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 6.12. The average price accepted is 100.11, implying an annualised yield of 1.660%.

 

Hong Kong Monetary Authority
13 November 2025

 

HKSAR INSTITUTIONAL GOVERNMENT BONDS TENDER RESULTS

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

Tender Date

:

13 November 2025

Issue Number

:

02GB2711001

Stock Code

:

85089 (HKGB1.71 2711-R)

Issue and Settlement Date

:

17 November 2025

Tenor

:

2 years

Maturity Date

:

17 November 2027

Coupon Rate

:

1.71%

Amount Applied

:

RMB7.65 billion

Amount Allotted

:

RMB1.25 billion

Bid-to-Cover Ratio*

:

6.12

Average Price Accepted (Yield)

:

100.11 (1.660%1)

Lowest Price Accepted (Yield)

:

100.04 (1.697%1)

Pro-rata Ratio

:

About 66%

Average Tender Price (Yield)

:

99.94 (1.749%1)

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

 

Hong Kong Monetary Authority
13 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 1.653%, 1.690%, and 1.741% respectivel.

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Last revision date : 13 November 2025