HK inflation bonds
Source: Bloomberg News |
July 6, 2011, Wednesday
|
Print Edition
Print Edition
THE Hong Kong government will sell as much as HK$10 billion (US$1.3 billion) of three-year inflation-linked bonds, said K.C. Chan, the city's secretary for financial services and the treasury.
Interest will be paid once every six months at the higher of either a floating rate linked to inflation for the last half-year period or a 1 percent fixed rate, Chan said yesterday. Only individuals holding a valid Hong Kong identity card are eligible to subscribe, he added.
Hong Kong is selling its first inflation-linked bonds as it grapples with a year-on-year inflation rate that reached 5.2 percent in May, the most in 34 months, pushed up by escalating rents and food prices. The government hopes the sale will help investors preserve purchasing power and boost the local debt market, Chan said.
Subscriptions will start from next Monday, and the securities will be listed on the Hong Kong stock exchange from July 29.
Interest will be paid once every six months at the higher of either a floating rate linked to inflation for the last half-year period or a 1 percent fixed rate, Chan said yesterday. Only individuals holding a valid Hong Kong identity card are eligible to subscribe, he added.
Hong Kong is selling its first inflation-linked bonds as it grapples with a year-on-year inflation rate that reached 5.2 percent in May, the most in 34 months, pushed up by escalating rents and food prices. The government hopes the sale will help investors preserve purchasing power and boost the local debt market, Chan said.
Subscriptions will start from next Monday, and the securities will be listed on the Hong Kong stock exchange from July 29.
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