Hong Kong to auction HK$1.2bn two-year Exchange Fund bonds on 24 November
The Hong Kong Monetary Authority (HKMA) will auction HK$1.2 billion in two-year Exchange Fund bonds on 24 November 2026, with settlement on 25 November. The bonds carry a 3.48 per cent annual coupon, paid semi-annually, and mature on 27 November 2028.
The Hong Kong Monetary Authority (HKMA) announced on 13 November that a two-year Exchange Fund bond auction will take place on 24 November 2026, with settlement on 25 November, replacing a maturing series of the same tenor. The bonds will mature on 27 November 2028.
A total of HK$1.2 billion in bonds will be available at auction, of which HK$5 million is reserved for non-competitive bids from the public via the Hong Kong Central Securities Depository (HKCSD). Any unsubscribed portion of the non-competitive tranche will be reallocated to the competitive auction, which originally totals HK$1.195 billion. The bonds carry an annual coupon rate of 3.48 per cent, payable semi-annually.
Members of the public wishing to submit non-competitive bids through the HKCSD may do so via Hong Kong Stock Exchange participants or brokers. Individuals holding an investor account with the HKCSD’s Central Depository and Settlement System may submit bids directly to the HKCSD for processing by the HKMA. Competitive bids must be placed through qualified market makers appointed by the HKMA; the latest list is available on the HKMA website at www.hkma.gov.hk. All bids, whether competitive or non-competitive, must be in multiples of HK$50,000.
Auction results will be published on the HKMA website, the LSEG page (HKMAOOE), and Bloomberg. Non-competitive bidders who applied through HKCSD may check results via their stock exchange participant or broker. HKCSD investor account holders can also access results through the system’s terminals for brokers, custodians or other participants, or via the ‘CCASS Direct’ telephone system.
The HKMA included a reference table for bond prices and yields in its announcement, with a disclaimer stating the information is for reference only and that the authority accepts no liability for any loss or damage arising from its use.
