Gov’t sets final issuance amount of its 7th silver bond at $45b

It's higher than its target issuance amount of $35b.

After receiving 289,640 valid applications for around $62.5 billion in principal amount bonds, the government has set the final issuance amount of its seventh silver bond at $45b.

The final amount is higher than the government’s initial target of $35b.

As per the Hong Kong Monetary Authority (HKMA), the valid applications received have been allocated different amounts of bonds up to a maximum of 21 units, with each unit being $10,000.

“For the 197,884 applications seeking 20 or fewer units, they will be allocated the full amounts applied for,” the HKMA said.

“The remaining 91, 756 applications or those applying for more than 20 units will be allocated 20 units each and then entered into a ballot. Of these applications, 24 295 will be allocated one additional unit,” the HKMA added.

The government will issue the bond on 14 September.