The Government announced today the fifth inflation-linked retail bond, or iBond, will open for subscription on July 21, with a maximum issuance size of $10 billion.
It will have a tenor of three years and bond holders will be paid interest every six months at a rate linked to Hong Kong's inflation, subject to a minimum rate of 1%.
Applications close at 2pm on July 29. People can apply through any of the placing banks, securities brokers or Hong Kong Securities Clearing Company.
The iBond will be issued on August 7 and listed on the Stock Exchange on August 10. It can be traded in the secondary market afterward.
The issuance is an initiative announced by the Financial Secretary in his 2015-16 Budget to further develop the local bond market.
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