Hong Kong's latest Silver Bond offering received about 478,000 applications worth a combined 119.8 billion Hong Kong dollars. The number of applicants rose by roughly 28 percent from the previous year, while the requested value increased by about 22 percent.
The bonds offer a guaranteed annual return of 4.25 percent and are intended for older residents. The final issue size is expected to reach as much as 55 billion Hong Kong dollars under the published plan.
Allocation results are due on September 11 and issuance is scheduled for September 15. The heavy oversubscription means that some orders will not be filled in full.
The response illustrates strong demand for predictable income in uncertain markets. It is still a financial product with specific terms, so liquidity, maturity and each investor's circumstances need to be considered carefully.
