Silver Bond opens for subscriptions next week

Business | 26 Nov 2020 5:00 pm

Subscriptions for the fifth batch of Silver Bond open on December 1 for eligible Hong Kong residents, the Hong Kong Monetary Authority said today.

The target issuance size will be up to HK$10 billion, and subject to demand, can be increased to HK$15 billion at the discretion of the government.

The bond will have a tenor of three years. Bondholders will be paid interest once every six months at a rate linked to inflation in Hong Kong, subject to a minimum 3.5 percent. Only applications from Hong Kong residents, who turn 65 in or before 2021 (i.e. those born on or before 31 December 1956), holding a Hong Kong identity card will be accepted.

The subscriptions end at 2:00 pm on December 11. The Bond will be issued on December 22.

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