According to information published on the website of the Hong Kong Monetary Authority, Hong Kong Mortgage Corporation Limited announced on June 11, 2026 that it had successfully completed the pricing of its first public digital bonds under its US$30 billion medium-term note programme. The issuance totaled about HK$12 billion equivalent.
Three tranches in Hong Kong dollars and renminbi
The transaction set a record as the largest digital bond issuance globally to date. Hong Kong Mortgage Corporation also became the first public sector institution in Hong Kong to issue digital bonds.
The offering comprised three tranches: a HK$6 billion two-year bond, a HK$2.5 billion five-year bond, and a RMB3 billion three-year bond. The five-year Hong Kong dollar bond was described as the longest-tenor Hong Kong dollar digital bond ever issued, setting a new benchmark for the Hong Kong dollar bond market.
At the peak of the bookbuilding process, total subscriptions reached about HK$24 billion equivalent from more than 100 accounts. The investor base included multilateral development banks, central banks, banks, private banks, insurance companies and asset management companies.
Distributed ledger platform shortens settlement
The digital bonds were digitally generated on a distributed ledger technology platform. The settlement cycle was reduced from five business days to three business days, shortening the processing timetable for the transaction.
Investors are able to participate in trading through the existing Central Moneymarkets Unit infrastructure, as well as through its links to Euroclear and Clearstream accounts. The issuance brings together public bond issuance, distributed ledger technology and existing debt market infrastructure under Hong Kong Mortgage Corporation’s medium-term note programme.