The debut issuance drew about HK$24 billion in peak orders from more than 100 accounts, settled in three working days on the HKMA’s CMU distributed ledger platform.
Hong Kong Mortgage Corporation Limited priced its debut public digital bond issuance at about HK$12 billion, with the sale described as the world’s largest digital bond issuance so far and making HKMC the first state-owned entity in Hong Kong to issue digital bonds. The offering comprised HK$6 billion of two-year notes, HK$2.5 billion of five-year notes, and CNH3 billion of three-year offshore yuan notes, with the five-year tranche described as the longest-dated Hong Kong dollar digital bond to date. The notes were issued through the Hong Kong Monetary Authority’s Central Moneymarkets Unit distributed ledger platform, cutting settlement to three working days from the usual five and linking investors to holdings through Euroclear and Clearstream connections. Peak demand reached around HK$24 billion from more than 100 accounts, including multilateral development banks, central banks, banks, insurers and asset managers, with mainland Chinese investors participating through Southbound Bond Connect. The deal adds to a broader push by public-sector and bank issuers to test tokenized bonds for faster settlement and lower costs.