The Hong Kong Mortgage Corporation Limited has launched a new retail bond issue with a total value of $300 miilion.

It will launch two series of Hong Kong-dollar fixed-rate notes of 1-year maturity and 3-year maturity and two series of US-dollar fixed-rate notes of 1-year maturity and 1-year extendable up to 3-year maturity. It is the first-ever US dollar notes launched by the HKMC.

It has appointed 17 banks from the programme's dealer group as placing banks to distribute the issue to retail investors.

The placing banks will also perform the role of market makers for the issue to facilitate transactions in the secondary market.

The offer period will open at 9am on July 19 and end at 2pm on July 26.