The Hong Kong Monetary Authority (HKMA), acting as representative of the Hong Kong Special Administrative Region Government, has announced a competitive tender for HK$1.5 billion in 1-year HONIA-indexed Floating Rate Notes scheduled for Wednesday, 12 August 2026. The notes will settle the following day and mature on 13 August 2027, with proceeds directed toward infrastructure projects under the Infrastructure Bond Programme.
- Tender Date: Wednesday, 12 August 2026, 9:30 am to 10:30 am
- Settlement Date: Thursday, 13 August 2026
- Amount on Offer: HK$1.5 billion
- Maturity: 1 year (Friday, 13 August 2027)
- Interest Rate: Indexed to Hong Kong Dollar Overnight Index Average (HONIA) plus the highest accepted spread, subject to a 0% minimum per interest period
- Minimum Tender Amount: HK$50,000 or integral multiples thereof
- Interest Payment Dates: 17 November 2026, 17 February 2027, 18 May 2027, 17 August 2027
The notes will be issued at par under a competitive tender process available exclusively to Primary Dealers appointed under the Infrastructure Bond Programme. Interested parties must submit applications through an authorized Primary Dealer, with the latest published list accessible via the Hong Kong Government Bonds website at www.hkgb.gov.hk. Tender results are expected to be published no later than 3:00 pm on tender day across the HKMA website, Hong Kong Government Bonds portal, Bloomberg, and Refinitiv platforms.
Interest will be calculated based on the annualized compounded average of daily HONIA rates during each interest period, combined with the highest accepted spread determined at tender. The notes are assigned issue number 01GH2708001 and stock code 4207 (HKGB FRN 2708), with expected commencement of dealing on the Stock Exchange of Hong Kong Limited on Friday, 14 August 2026. The HKMA is Hong Kong’s central banking authority, responsible for managing the currency and maintaining financial stability in the territory.
