The Hong Kong Mortgage Corporation Limited (HKMC) announced its third social bond issuance, raising approximately HK$23.8 billion (US$3 billion), marking the largest social bond issuance in the Asia Pacific to date. This issuance, completed on October 9, 2024, includes four tranches in multiple currencies and was highly successful, with a peak order book of HK$55 billion from over 200 institutional investors. Proceeds will primarily finance loans under the Special 100% Loan Guarantee Scheme, which supports small and medium-sized enterprises impacted by the COVID-19 pandemic. HKMC’s CEO highlighted the issuance as a demonstration of strong investor confidence in Hong Kong’s financial landscape.
Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/10/20241017-3/