Hong Kong to hold competitive offer for HK$1.5 billion floaters at par

By William Gullotti

Buffalo, N.Y., Feb. 6 – Hong Kong announced it will hold a competitive offering for HK$1.5 billion of floating-rate notes due Feb. 16, 2024, according to a press release on Monday.

Although priced at par, the offering will be competitive based upon the highest accepted spread over the Honia-based coupon, which has a floor of 0%.

The offering period will only be open between 8:30 p.m. ET and 9:30 p.m. ET on Feb. 15, with settlement and issue taking place Feb. 16.

Listing for the notes is expected on the Hong Kong Exchange effective Feb. 17.

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