100 view s
Photo by Marcus Miguel Hingpit on Pexels

URA $12b bonds oversubscribed two times

The proceeds will fund its capital on urban renewal projects.

The Hong Kong Urban Renewal Authority’s (URA) $12b issuance of senior bonds was oversubscribed two times over, with the order book reaching more than $22.8b.
 
It comprises bonds worth $4b with a three-year tenor, $5b with a five-year tenor, and $3b with a 10-year tenor, the authority said.

It was also the authority’s first issuance in the Hong Kong dollar public institutional bond market since 2009. With a coupon rate of between 3.35% to 3.55%, the yields on these bonds are the lowest in the HKD public offering market in the past two and a half years.

The offer drew an overwhelming response from local and overseas investors including banks, asset managers, corporations, insurance companies, hedge funds, and official institutions.

URA said the proceeds from the offering will fund its capital expenditure on urban renewal projects and for general corporate purposes.

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!