Airport Authority Hong Kong’s (AAHK) HK$5 billion (US$640 million) retail bonds, the first for the general public by the city’s airport operator in 20 years, received overwhelming response from investors.
The 4.25 per cent, 2.5-year bonds were oversubscribed more than three times, logging HK$15.69 billion from 175,178 applications. The Hong Kong government’s 4.75 per cent, three-year green bonds last September attracted a record 321,018 subscriptions totalling HK$30 billion, exceeding the HK$20 billion issue size.
“The bonds have been allocated in accordance with the mechanism set out in the offering memorandum,” the Airport Authority said in a statement. “The valid applications received have been allocated different amounts of bonds up to a maximum of three trading lots for each valid application.”
Applications for up to two lots will get their entire allocation, the authority said.
