RMB bond tender allots 1.0 billion at 1.563% yield
The Hong Kong Monetary Authority allotted RMB1.0 billion in 3-year RMB institutional Government Bonds today. The tender, which re-opened an existing bond, saw applications totaling RMB11.374 billion, resulting in a bid-to-cover ratio of 11.37 and an average accepted yield of 1.563 percent.
Tender details and strong demand
The Hong Kong Monetary Authority (HKMA) conducted a tender for RMB1.0 billion in 3-year RMB institutional Government Bonds on April 23, 2026.
This involved the re-opening of an existing bond, identified by issue number 05GB2912002 and stock code 84596 (HKGB2.37 2912-R), under the HKSAR Government's Infrastructure Bond Programme.
The tender attracted significant investor interest, with total applications reaching RMB11.374 billion.
This strong demand resulted in a bid-to-cover ratio of 11.37, highlighting the market's appetite for these government securities.
The bonds have a coupon rate of 2.37 percent and will mature on December 10, 2029.
Pricing and settlement specifics
The average price accepted for the allotted RMB1.0 billion bonds was 102.85, implying an annualised yield of 1.563 percent.
The lowest accepted price stood at 102.77, corresponding to an annualised yield of 1.586 percent.
The average tender price was 102.54, with an associated yield of 1.651 percent.
All successful bids were allotted at approximately 100 percent pro-rata.
The issue and settlement date for these bonds is set for April 27, 2026, marking the official transfer of the securities.