The Government announced today the launch of a new batch of the Silver Bond offering a minimum interest rate of 4%, and residents who turn 60 in or before 2025 and hold a valid Hong Kong identity card are eligible for subscription.
The target issuance size of the Silver Bond is $50 billion, with each unit offered at $10,000 and a tenor of three years. Interest will be paid semi-annually.
The bonds are the retail part of the Infrastructure Bond Programme. Proceeds will be credited to the Capital Works Reserve Fund for investment in infrastructure projects. The Government will publish information on the allocation of the proceeds on an annual basis.
Financial Secretary Paul Chan said the Government continues to issue the Silver Bond this year to provide a safe, reliable and low-risk investment option with steady returns for senior citizens, while driving the financial industry to tap into the immense potential of the silver market.
âThis batch of Silver Bonds is also issued under the Infrastructure Bond Programme, which will support infrastructure projects for the good of the economy and people's livelihood,â he added.
A maximum allocation of $1 million per investor will be stipulated, meaning that each investor will be allocated 100 units of retail bonds at most.
The subscription period will start from 9am on September 30 and end at 2pm on October 14, during which eligible residents may apply through the placing banks and designated securities brokers. The bonds will be issued on October 23.
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