Authors: Gloria Cheung, Grace Wee, Lily Wang, Kishore Bhindi, Karen Cheng, Chong Liew

HKSAR Government’s First Multi-Currency Digital Green Bonds

The Government of the Hong Kong Special Administrative Region of the People’s Republic of China (the “HKSAR Government”) issued approximately HK$6.0bn multi-currency fixed rate digital green bonds (the “Digital Green Bonds”) on 7 February 2024. The two-year multi-currency Digital Green Bonds were denominated in US dollar, euro, HK dollar and Renminbi, making this the first multi-currency digital bond offering globally. This bulletin provides an analysis on how the deal works and what it means for the market going forward.