Gov’t upsizes Silver Bond issuance to $55b on strong demand

A total of 476,703 valid applications were recorded by the subscription deadline.

Hong Kong raised the final issuance size of its latest Silver Bond to $55b from the $50b target after receiving $119.3b in valid applications.

The government received 476,703 valid applications by the close of the subscription period on 4 September.

All valid applicants will receive up to 13 units, with each unit worth $10,000, whilst about 88,422 subscribers who applied for 12 units or fewer will receive their applications in full.

Another 388,281 who applied for more than 12 units will receive 12 units each and enter a ballot for one additional unit. Of these, 97,396 applicants will receive the extra unit.

The Silver Bond will be issued on 15 September under the retail portion of the Infrastructure Bond Programme.