HONG KONG - The Hong Kong government announced Monday it would launch the second round of inflation-linked bond in June to help ease amounting inflation tension on the residents.
The subscription of the inflation-related retail bond, also called "iBond", will start from June 5, KC Chan, secretary for Financial Services & the Treasury of the government told a press conference.
Chan believed that the issuance of the iBond would promote further development of the retail bond market.
The maximum issuance size of the iBond will be HK$10 billion ($1.29 billion). It will have a tenor of three years and bond holders will be paid interest once every six months at a rate linked to inflation in Hong Kong, subject to a minimum rate of 1 percent.
The denomination of the iBond is HK$10,000. The subscription period will end on June 13.
The iBond will be issued on June 22 and listed on the Hong Kong Stock Exchange on June 25.
The Hong Kong government issued the first iBond in July 2011 with a total amount of HK$10 billion, which got a warm response from the public with considerable oversubscription.
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