Hong Kong secures US$3.5 billion to fund Northern Metropolis and green projects

Global investors pile into city’s latest bond sale, with orders 8.6 times oversubscribed, backing its green finance ambitions Hong Kong has raised HK$27.6 billion (US$3.5 billion) through a green and infrastructure bond sale to finance the Northern Metropolis and low-carbon transformation projects. The offering drew investors from more than 30 markets across Asia, Europe, the Middle East and the Americas, signalling global institutional investors’ confidence in Hong Kong’s development, the Hong Kong Monetary Authority said in a statement on Friday. Orders totalled about HK$239 billion, 8.6 times the offer size. The issuance “raises capital for key infrastructure projects, including the Northern Metropolis, thereby easing early project completion for the good of the economy and people’s livelihood,” said Financial Secretary Paul Chan Mo-po in the statement.

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