The Government today announced the launch of the fourth batch of Silver Bond for subscription by Hong Kong residents aged 65 or above.

The target issuance size is $3 billion with a tenor of three years.

Bond holders will be paid interest once every six months at a rate linked to Hong Kong’s inflation, subject to a minimum rate of 3%.

There will be no secondary market for the bond.

Bond holders can sell their bonds before maturity to the Government at par together with accrued but unpaid interest.

The subscription period will start at 9am on July 10 and end at 2pm on July 18.

The bond will be issued on July 29.

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