Hong Kong mortgage securities company issued 12 billion Hong Kong dollars of benchmark bonds, with a total of 20 local and international financial institutions participating.

On February 29th, Hong Kong Mortgage Corporation Limited announced the successful issuance of three tranches of Hong Kong dollar benchmark bonds totaling HK$12 billion under a US$30 billion medium term note program. This bond issuance is the largest ever public issuance of Hong Kong dollar senior unsecured bonds in the institutional investor market, as well as the largest public issuance of Hong Kong dollar bonds with a 10-year maturity. The bonds were marketed and priced in Hong Kong on February 21st, with the participation of 20 local and international financial institutions. The three tranches of bonds issued include HK$8 billion of 2-year bonds, HK$3 billion of 5-year bonds, and HK$1 billion of 10-year bonds. Following the Lunar New Year holiday and a series of investor roadshows, the issuance was well received by a diverse and high-quality group of local and overseas institutional investors, receiving over HK$37 billion in subscription orders. The bonds were ultimately allocated to over 180 institutions, including banks, investment and retirement funds, insurance companies, central banks and government-related funds, family offices, and private banks. The key terms of the issuance can be found in the appendix. William Li, Executive Director and CEO of Hong Kong Mortgage Corporation Limited, said: "We are pleased with the successful issuance of these three tranches of Hong Kong dollar benchmark bonds. Through this medium-term bond issuance, we have not only extended the yield curve for the corporation's bond issuances, but also established a solid benchmark for other public entities and local quality debt issuers. We believe that this issuance will encourage more local bond activities and provide investors with high-quality Hong Kong dollar debt instruments, further promoting the development of the local bond market."