Bankers welcome HK government bond success

01 Sep 2009

Bankers have welcomed institutional investors’ enthusiastic response to the city’s HK$3.5 billion bond sale – its first debt issue in five years. It is expected that the deal, which was more than six times covered, will help to deepen the city’s local currency bond market.

Institutional investors positively snapped up Hong Kong’s first government debt issue in five years, with the offering expected to deepen the city’s local currency bond market.

The HK$3.5 billion (US$452 million) two-year notes were 6.45 times oversubscribed and priced at an average yield of 0.59%.

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