Silver Bond opens for subscriptions next weekBusiness | 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.