Debt

Hong Kong’s financial secretary Paul Chan described the government's issuance of a third digital green bond as "reflecting the market support for tokenised products". The many times oversubscribed issuance had a large range of global investors.

Debt issuance was capped at $15bn the previous year.

The funds will be mobilised to support initiatives such as the Asean Power Grid, in collaboration with four Malaysian banks.

Gyungmin Kim is replacing Jeyhyung Rhee who is leaving the bank, while Minjib Kim will support him as a director.

Proceeds from the three-year notes will be mostly used to refinance maturing debentures.

Bauhinia 3 has a portfolio of 33 project and infrastructure loans across 28 projects, 12 countries and nine sub-sectors, with a value of $450.5m. HKMC issued Class D notes at non-investment grade -- a first in Asia.

If approved, the fund will become the first private credit infrastructure fund to be listed on HKEX. The fund invests in assets across renewables, power, utilities, data centres, telecommunications, transport, healthcare and accommodation.

The HKMA and SFC want to encourage primary issuances, enhance secondary liquidity, improve infrastructure, and play a prominent role in the internationalisation of the Renminbi.

Consisting of two tranches, the notes are the first US dollar-denominated subordinated perpetual notes from the Thai issuer.