Silver Bond Subscriptions Hit Record Highs As Banks Roll Out Refund Offers

The latest batch of Silver Bonds drew a record 476,700 subscribers and more than HK$119.3 billion in applications, with the final issue size set at HK$55 billion, according to Ming Pao. The bonds carry a guaranteed minimum interest rate of 4.25%, the second-highest on record. Due to heavy demand, each investor will receive no more than 13 lots, or HK$130,000 based on HK$10,000 per lot, generating HK$5,525 in annual interest and HK$16,575 over three years. More than HK$64 billion in refunds will gradually return to the market, and major banks have quickly launched refund-related offers to attract customers.