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Tender results of the re-opening of 10-year RMB HKSAR Institutional Government Bonds

Press Releases

13 Nov 2025

Tender results of the re-opening of 10-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 10-year RMB institutional Government Bonds through the re-opening of existing Government Bond (issue number 10GB3505001) under the Infrastructure Bond Programme was held today (13 November).

A total of RMB1.0 billion 10-year Government Bonds were offered today. A total of RMB1.825 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 1.83. The average price accepted is 101.28, implying an annualised yield of 2.151%.

 

Hong Kong Monetary Authority
13 November 2025

 

HKSAR INSTITUTIONAL GOVERNMENT BONDS TENDER RESULTS

Tender results of 10-year RMB HKSAR Institutional Government Bonds:-

Tender Date

:

13 November 2025

Issue Number

:

10GB3505001 (Re-open)

Stock Code

:

85024 (HKGB2.29 3505-R)

Issue and Settlement Date

:

17 November 2025

Tenor

:

10 years

Maturity Date

:

15 May 2035

Coupon Rate

:

2.29%

Amount Applied

:

RMB1.825 billion

Amount Allotted

:

RMB1.0 billion

Bid-to-Cover Ratio*

:

1.83

Average Price Accepted (Yield)

:

101.28 (2.151%1)

Lowest Price Accepted (Yield)

:

100.93 (2.193%1)

Pro-rata Ratio

:

About 76%

Average Tender Price (Yield)

:

100.76 (2.213%1)

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

 

Hong Kong Monetary Authority
13 November 2025

 

 

1 Theyields 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 2.140%, 2.181%, and 2.201% respectively.

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Last revision date : 13 November 2025