The Hong Kong Mortgage Corporation ("HKMC") successfully issued multi-currency public benchmark bonds totaling HK$25.3 billion, breaking its previous record. This includes HK$25.3 billion (US$3.3 billion equivalent) in four tranches: HK$10 billion 2-year, CNH 5 billion 3-year, US$1 billion 5-year, and a 30-year HK$2 billion social bond. The issuance was well-received by institutional investors and is aimed at providing financial support for elderly homeowners in Hong Kong through the Reverse Mortgage Programme. This issuance reinforces Hong Kong's position as a leading international bond issuance hub and highlights the importance of social bonds in fostering sustainable financing and financial inclusion.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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The Hong Kong Mortgage Corporation Limited ("HKMC") has successfully issued its largest-ever multi-currency public benchmark bonds, amounting to HK$25.3 billion, under its Medium Term Note Programme.
The issuance, completed on November 25, 2025, comprised four tranches: HK$10 billion 2-year, CNH 5 billion 3-year, US$1 billion 5-year bonds, and a 30-year HK$2 billion social bond.
This landmark issuance attracted a diverse group of high-quality investors, including multilateral development banks, government-related funds, and asset management companies, with a combined peak orderbook of around HK$80 billion.
The 30-year HKD social bond tranche was the largest and first-of-its-kind social bond issuance in the Asia Pacific, supporting the HKMC’s Reverse Mortgage Programme ("RMP") for elderly homeowners.
The RMP provides supplementary cash flow for elderly homeowners, enhancing their quality of life during retirement. As of the end of October 2025, HKMC has processed 8,776 applications with an average monthly payout of HK$15,900.
Mr. Howard Lee, Deputy Chief Executive of the Hong Kong Monetary Authority and Executive Director of the HKMC, noted that this issuance further solidifies Hong Kong’s position as a leading bond issuance hub and a premier offshore Renminbi business center.
Mr. Colin Pou, Executive Director and CEO of the HKMC, emphasized the issuance’s role in attracting new investors to the Hong Kong capital market and promoting sustainable financing for the elderly.
The HKMC acknowledges the professional guidance and support of 29 local and international financial institutions that acted as Joint Global Coordinators, Joint Bookrunners, Joint Lead Managers, and Joint Structuring Banks.
The social bond tranche was issued under the HKMC’s Social, Green and Sustainability Financing Framework (SGS Framework), details of which are available at the provided link.
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