Hong Kong Monetary Authority announces pricing of about HKD27.6 billion in HKSAR Government green and infrastructure bonds

The Hong Kong Monetary Authority has announced, as representative of the HKSAR Government, the successful pricing of about HKD27.6 billion equivalent of green and infrastructure bonds in HKD, RMB, USD and EUR under the Government Sustainable Bond Programme and the Infrastructure Bond Programme. Proceeds will be credited to the Capital Works Reserve Fund to finance or refinance eligible green and infrastructure projects under the Government's Green Bond Framework and Infrastructure Bond Framework. The offering comprised a HKD3 billion 30-year infrastructure tranche priced at 3.95 percent, RMB6 billion 20-year and RMB6 billion 30-year infrastructure tranches priced at 2.60 percent and 2.70 percent, a USD500 million 5-year infrastructure tranche priced at 4.052 percent, and a EUR750 million 8-year green tranche priced at 3.119 percent. Orders totalled about HKD239 billion equivalent from investors across more than 30 markets, or about 8.6 times the amount offered. The 30-year HKD tranche was twice the size of the inaugural issuance last year, while the long-dated 20-year and 30-year RMB bonds first introduced in 2024 also drew demand. Settlement is expected on 14 May 2026, with listing planned on The Stock Exchange of Hong Kong Limited and the London Stock Exchange. The bonds were assigned ratings of AA- by Fitch, Aa3 by Moody's and AA+ by S&P Global Ratings. The HKD, RMB and EUR bonds were offered in Reg S format, and the USD bonds in 144A / Reg S format.