Gov't receives over 300k applications for new silver bonds batch

The total issuance amount is set at $55b and will be issued on 23 October.

The government has received 300,413 applications for its latest batch of silver bonds, totaling $69.9b in bond principals.

More than half of the applications, 166,177, were for 23 units or more, and these applicants will be allocated the full number of units they applied for.

For the remaining applicants, 23 units each will be allocated, with an additional unit given to 23,737 applicants through a ballot process. The total issuance amount is set at $55b, higher than the target issuance amount of $50b, and the bonds will be issued on 23 October.

Financial Secretary Paul Chan noted that this is the first batch of silver bonds issued under the government’s Infrastructure Bond Programme, which supports infrastructure projects aimed at boosting the economy and engaging citizens in Hong Kong’s long-term development.

Chan also acknowledged the strong response to the bond issuance, affirming the continued popularity of the silver bond scheme amongst senior residents. He added that the scheme’s effectiveness and future arrangements would be reviewed based on investor feedback, market conditions, and other relevant factors.