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# Hong Kong Mortgage Corporation prices largest ever digital bond issuance globally
- URL: https://www.theglobalbanker.com/hong-kong-mortgage-corporation-priced-largest-ever-digital-bond-issuance-globally/
- Published: 2026-06-12T10:07:35.000Z
- Updated: 2026-10-02T10:07:08.000Z
- Description: The Hong Kong Mortgage Corporation priced its inaugural digital bond, raising about HK$12 billion equivalent under its US$30 billion Medium Term Note Programme, in what was the largest digital bond issuance globally.
- Author: TGB Editorial Team
- Tags: Fintech, Asia-Pacific

The Hong Kong Mortgage Corporation Limited priced its inaugural digital bond issuance, raising approximately HK$12 billion equivalent under its US$30 billion Medium Term Note Programme, in a multi-tranche transaction that represented **the largest digital bond issuance globally** and made the HKMC the **first public sector entity in Hong Kong to issue digital bonds. TRANSACTION DETAIL**

The transaction was carried out as a multi-tranche offering under the issuer's existing Medium Term Note Programme. The deal size, about HK$12 billion equivalent, sits within the US$30 billion ceiling that the programme provides. The bonds were issued in a digitally native format, with the bonds created on a distributed-ledger platform operated by the Central Moneymarkets Unit (CMU), which also serves as the clearing and settlement system for the bonds.

The triple-tranche issuance comprised HK$6 billion of 2-year, HK$2.5 billion of 5-year and CNH3 billion of 3-year digital bonds, priced on 10 June at yields of 3.355%, 3.431% and 1.70% respectively. According to the HKMC, the 5-year Hong Kong dollar tranche is the longest tenor yet for an HKD-denominated digital bond.

#### MARKET IMPLICATIONS

The issuance was the largest of its kind globally to date. The issuance attracted a combined peak orderbook of around HK$24 billion equivalent from more than 100 accounts, including local, Southbound Bond Connect and international institutional investors.

Investors can access the bonds through the existing CMU infrastructure and its links to Euroclear and Clearstream, and the settlement cycle was shortened from five business days to three, the HKMC said.

Howard Lee, Deputy Chief Executive of the Hong Kong Monetary Authority and an Executive Director of the HKMC, said the issuance "helps deepen Hong Kong's digital asset ecosystem and accelerate the adoption of tokenisation technology in the fixed income market".

Sixteen local and international financial institutions acted as joint global coordinators, joint bookrunners and joint lead managers, including Bank of China (Hong Kong), Crédit Agricole CIB, HSBC, J.P. Morgan, ICBC (Asia) and Standard Chartered Bank.

HKMC chief executive Colin Pou said the milestone "highlights the growing participation from arranging banks and first-time digital bond investors".

**Sources:** [The Hong Kong Mortgage Corporation, press release, 11 June 2026](https://fintechnews.hk/39197/blockchain/digital-bond-hkmc-hong-kong-issuance/)