Results of 1-year RMB HKSAR Institutional Government Bonds tender through re-opening

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced that a tender of 1-year RMB institutional Government Bonds through the re-opening of existing Government Bond (issue number 02GB2705001) under the Infrastructure Bond Programme was held today (23 July).
A total of RMB0.75 billion 1-year Government Bonds were offered today. A total of RMB6.628 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 8.84. The average price accepted is 100.34, implying an annualised yield of 1.286%.
 
Hong Kong Monetary Authority
23 July 2026
 
HKSAR INSTITUTIONAL GOVERNMENT BONDS TENDER RESULTS
Tender results of 1-year RMB HKSAR Institutional Government Bonds:-

Tender Date	:	23 July 2026
Issue Number	:	02GB2705001 (Re-open)
Stock Code	:	85010 (HKGB1.71 2705-R)
Issue and Settlement Date	:	27 July 2026
Tenor	:	1 year
Maturity Date	:	17 May 2027
Coupon Rate	:	1.71%
Amount Applied	:	RMB6.628 billion
Amount Allotted	:	RMB0.75 billion
Bid-to-Cover Ratio*	:	8.84
Average Price Accepted (Yield)	:	100.34 (1.286%1)
Lowest Price Accepted (Yield)	:	100.34 (1.288%1)
Pro-rata Ratio	:	About 61%
Average Tender Price (Yield)	:	100.26 (1.387%1)

* Calculated as the amount of bonds applied for over the amount of bonds issued.
 
Hong Kong Monetary Authority
23 July 2026
 
  ¹ The yields stated above are annualised yields.  For reference, the semi-annualised yields corresponding to the average price accepted, lowest price accepted, and average tender price are 1.282%, 1.284%, and 1.382% respectively.

 

Source: Hong Kong Monetary Authority