The Hong Kong government extended its own yield curve on Friday after pricing the institutional tranches of its landmark Hong Kong and US dollar denominated bond deal. Both the five and 15-year Hong Kong dollar tranches came at the tight end of pricing having attracted comfortable levels of oversubscription.
Lead managers were BOCI, Citigroup, HSBC and Merrill Lynch.
Having set out with a minimum size of HK$3 billion for the five-year tranche, the government increased it to HK$3.5 billion after attracting an order book of HK$6.2 billion. The deal was priced at 99.851% on a coupon of 3.75% to yield 3.783%.
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