As part of yesterday's annual budget announcement, the Hong Kong government announced it was seeking to raise up to HK$20 billion $2.6 billion in the local and international bond markets. Hong Kong has never issued in the international bond markets before and the Exchange Fund issues the only quasi-government Hong Kong bonds through its notes programme.
In a press briefing after the budget speech, Financial Secretary Henry Tang confirmed that his department had sent out RFPs to international investment banks yesterday morning seeking their help with the issue. He said he was looking to raise bonds denominated in Hong Kong dollars and other international currencies up to a maximum of HK...
