Tender of one-year HONIA-indexed Floating Rate Notes to be held on August 13
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (August 7) that a tender of 1-year HONIA-indexed Floating Rate Notes (Notes) under the Infrastructure Bond Programme will be held on Wednesday, August 13, 2025, for settlement on Thursday, August 14, 2025.
A total of HK$1.5 billion 1-year HKD Notes will be tendered. The Notes will mature on August 14, 2026 and will carry interest indexed to the Hong Kong Dollar Overnight Index Average (HONIA), payable quarterly in arrear.
Tender is open only to Primary Dealers appointed under the Infrastructure Bond Programme. Anyone wishing to apply for the Notes on offer can do so through any of the Primary Dealers on the latest published list, which can be obtained from the Hong Kong Government Bonds website at www.hkgb.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof.
Tender results will be published on the HKMA’s website, the Hong Kong Government Bonds website, Bloomberg (GBHK <GO>) and Refinitiv (IBPGSBPINDEX). The publication time is expected to be no later than 3pm on the tender day.
HKSAR Institutional Government Bonds Tender Information
Tender information of 1-year HONIA-indexed Floating Rate Notes:
Issue Number |
: |
01GH2608001 |
Stock Code |
: |
4295 (HKGB FRN 2608) |
Tender Date and Time |
: |
Wednesday, August 13, 2025
9.30am to 10.30am |
Issue and Settlement Date |
: |
Thursday, August 14, 2025 |
Amount on Offer |
: |
HK$1.5 billion |
Issue Price |
: |
At par |
Maturity |
: |
1 year |
Maturity Date |
: |
Friday, August 14, 2026 |
Interest Rate |
: |
Indexed to the sum of the annualised compounded average of daily HONIA in each interest period and the highest accepted spread at tender, subject to a minimum of 0 per cent per interest period. Details on calculation of interest rate are available at the Institutional Issuances Information Memorandum of the Infrastructure Bond Programme and Government Sustainable Bond Programme (Information Memorandum) published on the Hong Kong Government Bonds website. |
Interest Period End Dates |
: |
November 14, 2025
February 16, 2026
May 14, 2026
August 14, 2026 |
Interest Payment Dates |
: |
November 18, 2025
February 23, 2026
May 18, 2026
August 18, 2026 |
Method of Tender |
: |
Competitive tender |
Tender Amount |
: |
Each competitive tender must be for an amount of HK$50,000 or integral multiples thereof. Any tender applications for the Notes must be submitted through a Primary Dealer on the latest published list. |
Other Details |
: |
Please see the Information Memorandum available on the Hong Kong Government Bonds websiteor approach Primary Dealers. |
Expected commencement date of dealing on the Stock Exchange of Hong Kong Limited |
: |
Friday, August 15, 2025 |
Use of Proceeds |
: |
The Notes will be issued under the institutional part of the Infrastructure Bond Programme. Proceeds will be invested in infrastructure projects in accordance with the Infrastructure Bond Framework published on the Hong Kong Government Bonds website. |
Source: AI-found images
FSD and BD conduct joint inspection and enforcement operation against industrial buildings
In response to earlier media reports on fire safety issues in certain industrial buildings, the Fire Services Department (FSD) and the Buildings Department (BD) are highly concerned about the situation and conducted a joint inspection and enforcement operation targeting industrial buildings from December 29 to 31, 2025, with a view to ensuring public safety.
An industrial building in Kwun Tong, Photo by Bastille Post
The FSD and the BD inspected a total of nine industrial buildings located in various districts in Kowloon and the New Territories during the joint operation. The fire personnel identified a total of 261 irregularities related to various fire hazards, such as obstruction or locking of means of escape, defective or wedged-open smoke stop doors, as well as fire service installations or equipment (FSIs) that were defective or not in efficient working order. The FSD took immediate enforcement action against the persons concerned.
An industrial building in Kwun Tong, Photo by Bastille Post
Among the cases related to obstruction of means of escape, the FSD instituted three prosecutions and issued 22 Fire Hazard Abatement Notices (FHANs), requiring the persons concerned to abate the fire hazards within a specified period. Should they fail to comply with the requirements of the FHANs within the period, the FSD will institute resolute prosecution. In addition, inspections revealed that some buildings had defective smoke stop doors and FSIs. The FSD will issue FHANs to the persons concerned and continue to take follow-up action.
The Buildings Department (BD), Photo source: reference image
The BD identified 13 subdivided flats suspected of being used illegally for domestic purposes. Further investigations are now under way, and letters have been sent to the relevant owners and occupiers asking them to contact the BD as soon as possible to arrange an inspection of their flats. Otherwise, the BD will consider applying for a court warrant to enter the premises for inspection. If it is confirmed that the flats in question have been used for illegal domestic purposes, the BD will take enforcement action in accordance with the Buildings Ordinance, including ordering the cessation of illegal domestic use and rectify the dangerous situations. The BD also identified in the operation that there was dilapidation in the exit staircases of one of the industrial buildings, but no obvious danger to the overall building structure was noted. The BD has issued a repair order to the owners' corporation for conducting the necessary repair work.
The Fire Services Department (FSD), Photo source: reference image
Apart from inspection and enforcement, the FSD also carried out fire prevention education and publicity at the same time during the operation to enhance fire safety awareness among owners and occupiers of industrial buildings, thereby mitigating fire risk from the source. The BD has also long been promoting building safety and the proper use of buildings through various channels, including distributing themed posters to management offices of industrial buildings for displaying in prominent places to serve as a reminder to owners and occupiers that industrial buildings must not be used illegally for domestic purposes.
