Airport Authority launches HK$5B retail bonds
Friday, January 5, 2024
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The Airport Authority (AA) has announced the launch of Hong Kong International Airport retail bonds (Bonds) available exclusively to individuals holding valid Hong Kong identity cards. Interested parties can subscribe for the Bonds through designated placing banks, the Hong Kong Securities Clearing Company Limited, or specified securities brokers.
The Offering Memorandum, dated January 5, 2024, can be accessed online via the AA’s website and The Stock Exchange of Hong Kong Limited’s website. Here are the key details about the Bonds:
- Maximum issue amount: HK$5 billion
- Tenor: 2.5 years
- Interest rate (coupon): 4.25% per annum, payable quarterly in arrears
- Principal application amount: multiples of HK$10,000
- Investors have the option of requesting early redemption within specified deadlines. The AA will redeem some or all of the Bonds at 100% of their principal amount, along with accrued and unpaid interest up to, but not including, the redemption date.
The Bonds will be issued on February 5, 2024, and listed on the Hong Kong Stock Exchange on the next business day, February 6, 2024. The AA has appointed 10 banks as market makers for the Bonds. These market makers will make efforts to maintain a market in the Bonds for retail investors through over-the-counter transactions.
The appointed placing banks include:
- Bank of China (Hong Kong) Limited
-HSBC Limited, known as The Hongkong and Shanghai Banking Corporation Limited
- Bank of Communications (Hong Kong) Limited
- The Bank of East Asia, Limited
- China CITIC Bank International Limited
- China Construction Bank (Asia) Corporation Limited
- Chiyu Banking Corporation Limited
- Chong Hing Bank Limited
- Citibank (Hong Kong) Limited
- CMB Wing Lung Bank Limited
- Dah Sing Bank, Limited
- DBS Bank (Hong Kong) Limited
- Fubon Bank (Hong Kong) Limited
- Hang Seng Bank Limited
- Industrial and Commercial Bank of China (Asia) Limited
- Nanyang Commercial Bank, Limited
- OCBC Bank (Hong Kong) Limited
- Shanghai Commercial Bank Limited
- Standard Chartered Bank (Hong Kong) Limited
The appointed designated securities brokers include:
- Bright Smart Securities International (H.K.) Limited
- Chief Securities Limited
- Essence International Securities (Hong Kong) Limited
- Everbright Securities Investment Services (HK) Limited
- First Shanghai Securities Limited
- Futu Securities International (Hong Kong) Ltd
- Hong Kong International Securities Limited
- Sanfull Securities Limited
- Sinolink Securities (Hong Kong) Company Limited
- SinoPac Securities (Asia) Limited
- SoFi Securities (Hong Kong) Limited
- South China Securities Limited
- Tai Shing Stock Investment Co., Ltd
- Tai Tak Securities (Asia) Limited
- Tiger Brokers (HK) Global Limited
- UOB Kay Hian (Hong Kong) Limited
- Victory Securities Company Limited
- Wocom Securities Limited
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Tags: Airport Authority, Bank of China HK, Bank of Comm HK, Bank of East Asia, China CITI CBank, China Construction Bank, Chiyu Banking, Chong Hing Bank, Citi bank HK, HongKong Airport, hsbc, Placing Banks, Retail Bonds
