HK$1.5 billion 1-year HONIA Notes tender on May 13

The Hong Kong Monetary Authority (HKMA) will tender HK$1.5 billion of 1-year HONIA-indexed Floating Rate Notes on Wednesday, 13 May 2026, with settlement on Thursday, 14 May 2026.

These Notes, maturing on 14 May 2027, will carry interest indexed to the Hong Kong Dollar Overnight Index Average (HONIA), payable quarterly.

The tender is exclusively open to Primary Dealers appointed under the Infrastructure Bond Programme, with each tender requiring a minimum of HK$50,000 or integral multiples.

The Notes are issued at par, and their interest rate will be determined by the sum of the annualised compounded average of daily HONIA and the highest accepted spread at tender, subject to a minimum of 0% per interest period.

Further details on interest calculation are available in the Information Memorandum on the Hong Kong Government Bonds website.

Dealing on the Stock Exchange of Hong Kong Limited is expected to commence on Friday, 15 May 2026.

The Notes are issued under the institutional part of the Infrastructure Bond Programme, with proceeds designated for investment in infrastructure projects, aligning with the Infrastructure Bond Framework.

This initiative supports the HKSAR Government's commitment to public works and economic development.

Investors wishing to apply for the Notes must do so through any of the Primary Dealers listed on the Hong Kong Government Bonds website.

Tender results will be made public on the HKMA's website, the Hong Kong Government Bonds website, Bloomberg (GBHK <GO>), and Refinitiv (IBPGSBPINDEX).

Publication is anticipated no later than 3:00 pm on the tender day, ensuring timely dissemination of information to market participants.