Tender results of 1-year RMB HKSAR Institutional Government Bonds

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced that a tender for 1-year RMB institutional Government Bonds (issue number 01GB2612001) under the Infrastructure Bond Programme was held today (4 December).
A total of RMB1.0 billion 1-year Government Bonds were offered today. A total of RMB5.280 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 5.28. The average price accepted is 100.04, implying an annualised yield of 1.566%.
 
Hong Kong Monetary Authority
4 December 2025
 
HKSAR INSTITUTIONAL GOVERNMENT BONDS TENDER RESULTS
Tender results of 1-year RMB HKSAR Institutional Government Bonds:-

Tender Date	:	4 December 2025
Issue Number	:	01GB2612001
Stock Code	:	85100 (HKGB1.60 2612-R)
Issue and Settlement Date	:	8 December 2025
Tenor	:	1 year
Maturity Date	:	8 December 2026
Coupon Rate	:	1.60%
Amount Applied	:	RMB5.28 billion
Amount Allotted	:	RMB1.0 billion
Bid-to-Cover Ratio*	:	5.28
Average Price Accepted (Yield)	:	100.04 (1.566%1)
Lowest Price Accepted (Yield)	:	100.04 (1.566%1)
Pro-rata Ratio	:	About 95%
Average Tender Price (Yield)	:	99.94 (1.671%1)

* Calculated as the amount of bonds applied for over the amount of bonds issued
 
Hong Kong Monetary Authority
4 December 2025
  ¹ The yields stated above are annualised yields.  For reference, the semi-annualised yields corresponding to the average price accepted, lowest price accepted, and average tender price are 1.559%, 1.560%, and 1.665% respectively.
 

Source: Hong Kong Monetary Authority