Silver Bond nets $6.2b

Business | Gary Poon 7 Dec 2018

The third Silver Bond has netted a total of HK$6.2 billion in subscriptions, 50 percent more than a year ago, though it only had 45,000 subscribers, 3.5 percent lower than last year.

A spokesperson for the Bank of China Hong Kong (2388) said that their customers' average subscription was HK$130,000, a 40 percent increase over last year, while the number of subscribers were almost the same.

A spokesperson for the Hongkong and Shanghai Bank said the market was very receptive towards the bonds while a spokesperson for Hang Seng Bank (0013) said their customers' average subscription was HK$140,000.

A spokesperson for CMB Wing Lung Bank said their customers' average subscription was HK$130,000, while the highest subscription amount was HK$2 million.

The three-year silver bond, whose semi-annual interest payment is linked to average annual inflation, offers a minimum interest rate of 3 percent.

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