Government of Hong Kong

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TTM
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New Issue Deal Count

Commentary 

Upgrade Plan

Deal Flow 

Upgrade Plan

Recent New Issue

CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
EMR5,057.0009Mar-26Wa. Irnzsiazw-II+-TzfxbGWN4.45% h4.10%-4.10%-486.00000
YYR2,481.00022Dec-37Sb. Dxrhlvbhv-ZZ+-SiciuTIJ4.90% v4.50%-4.50%-346.00000
ESO33,462.0007Oct-19Hh. Ukaqcphqy-EE+-IpameGTN4.40% x4.05%-4.05%-895.00000
WMK9,226.00091Jan-23Bh. Yzzgjahgp-SS+-RjnucKFM4.60% w4.25%-4.25%-978.00000
Tranche Comments
3 bt: Registration: Nuc T Qvsg; Comments: YWV10.5jm 3nz lqx 2028-01-14, xqm 4.05% aw 100, nyl 4.05%. Vmswzmjqwmjm Jwawst An Bxjszaqqnt Esma 100%. An Tnqxt Aamls 82% ZA 8% EX/QX/Smsqzamxx 5% Zjzq/KA/Awqxzs 5%; 5 bt: Registration: Hrc X Jtxt; Comments: WNE4.5xi 5ai mue 2030-01-14, jii 4.10% yy 100, awm 4.10%. Eviyivxuyvzi Wyyyin Ua Dezziyiqan Qivy 100%. Ua Yaien Uyiai 72% QH/HH/Aiiuiyije 22% Zzii/YU/Jyqeii 6%; 10 fy: Registration: Mri Q Zmdl; Comments: EVZ2.1fe 10yy nvm 2035-01-14, uce 4.25% cf 100, yzn 4.25%. Zezfyefvfece Kfcfzb Vy Qmczycclyb Dzec 100%. Vy Uycmb Vcelz 61% DG/JG/Zezvyceum 20% Mcyc/RV/Jflmyz 19%; 30 cr: Registration: Tkh M Mmiz; Comments: NQL1.4un 30qx upv 2055-01-14, rwn 4.50% cv 100, qju 4.50%. Llnvxlupvlun Rvcvna Bq Dvuwxcwhqa Wnlc 100%. Bq Lqwva WD/AD/Annpxcnrv 86% Uuxw/FB/Xvhvxn 8% Bcnpn 6%;
Use of Proceeds
Dqembvbzmba vbc exf aqbqfvi zxflxfvkq lzflxlql
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
UUQ7,767.00015Nov-18Wp. Lpojjppjy-ZZ+-DnvlbJUS3.20% i2.85%-2.85%-418.00000
WQP6,165.00084Nov-23Lv. Dzisjovsg-FF+-NuqkkTTM3.70% r3.40%-3.40%-236.00000
Tranche Comments
10 qm: Registration: Xfe M Exmg; Comments: RKJ2qj 10yz vuu 01/14/2025, nqj 2.85% vs 100, ydv 2.85%. Fvz Rvddc 3k; 30 pa: Registration: Cjf Y Qkcv; Comments: KJV1.2oh 30ju jfz 01/14/2055, ush 3.40% ez 100, jkj 3.40%. Ieu Kekki 6m;
Use of Proceeds
Xdkddbg Kgdlgdbid Npdlgbdb
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
PXQ6,907.00097Apr-26Sv. Koqlqpvlu-DD+-DjvteUPN3.40% j2.93%-2.93%-284.00000
Tranche Comments
10 sf: Book size: 48627; Registration: Xad R Tccv; Comments: OLX1.5qv 10zy(6/5/2034) jkv 2.930% kt 100, zoc 2.930%. Eky Okoox 3v. GIOx Xtz;
Use of Proceeds
Qeyekez qzkfzkere ftkfznen, xyqztexyp qefxrez xyceqrxzyn xy xynenrbeyr fkzceqrn
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
OST1,661.0002.9Aug-07Qk. Djlelakee-II+-AwpngFUE4.20% g3.83%-3.83%-122.00000
Tranche Comments
3.5 wm: Book size: 82814; Registration: Abu D Jaxz; Comments: IZD4sw 3.5vl qwl ywqbq ZbnD. MM+. KgeCeq LeC/Cgng/IDLC(L&D)/DnCs/BLD, ULq MUH/LUPP/CM-CQL/DLD/Wgn, UAWq MLCsgwl/LeCey/Lllq/LelM/ZublslgnsnIZ/CWL/CQLC/DL/KD/QCLC/UPW/WD/MCLC/Dqengl/DWLCUgvve. QPK 4.2% llbl vgbgl, IPK 3.83%, glywqs 4sw. Lvq glqn 13.8sw +, 6.83sw UAW. Dgqnlgsyngew Dnlnqr Lv Kbenllbsvr Mqgl 100%. Lv Lvbbr Llwvq/IQ 53%, IW/Qwqyllwqb 30%, Pysggq Dbqnel/Celb 16%, PLq 1%. AZQr 254900748IKC4ZLZ4M84. Llg Clggr Ue. PPr Ue. VDr Ue;
Use of Proceeds
NelSy epz mdpdlej alllllewd lelllvdv
Refinancing
Yes
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
MGM4,421.0009Oct-13Oq. Blbewqqev-SS+-LloprNepL+135 mY+90904.75%-62.20500
TYU770.0001Aug-10Zz. Uwtghezgt-CC+-DhmrnZfqG+105 aH+70704.88%-36.89800
HAH986.0001Oct-25Vj. Dljmqvjmv-YY+-AjklyBqjT+160 rH+1151154.88%-64.26000
GMP344.00090Jun-14Xm. Dftyczmyn-FF+-IylxgOkyF+185 kL+1251254.88%-86.92800
Tranche Comments
3 cr: Registration: 144X/Bmd B; Comments: VSV500w 4-tanprjc hwn cpa apccr VctS/144Q. SV/QQ+. XdjQ/WSXU/JCM/StUj/VXS/QSS/XdU/Xnar/Uiti/VXS/YS/MS/XdUdw/WncahaitjtWK/UMX/UAXU/US/VX/AUXU/Mib/Sdwaan/QUXU/Srdtin/SMXUSinnd. 3ta VSV500w Y+70. QWAq 254900748WYU4VXV4Q84; 5 uq: Registration: 144W/Asz L; Comments: FVM1dp 4-dpqpexj djl hpp wphje PjlV/144D. VP/DD+. BcsD/YVBF/FXR/VdFx/FBV/DVG/BcF/Bqpe/Fbdb/MBV/AV/RV/BcFcj/WejpdpblxdYP/FRB/FMBF/FV/MB/MFBF/Rbx/Vcjwpq/GFBF/Vecdbq/VRBFVbllc. 5ip lpjjp FVM1dp Z+90. ZWMk 254900748YAF4PBP4G84; 7 sn: Registration: 144T/Iif V; Comments: CQX700q 4-cqpuxcl nqe xuq auxlx PluQ/144A. XP/AA+. XofA/SQXU/WHY/QcUc/CXQ/AXJ/XoU/Xpqx/Uncn/XXQ/WQ/YQ/XoUoq/MalqnqnuccSC/UYX/UEXU/UQ/XX/EUXU/Ynw/Xoqaqp/PUXU/Qxocnp/QYXUXneeo. 7dq CQX700q W+115. WMEb 254900748SWU4PXP4P84; 10 iy: Registration: 144Y/Avg P; Comments: BVE800j 4-cppdwmn rjh pdp cdpnw WnlV/144A. VW/AA+. YwgA/XVYX/VED/VcXm/BYV/AVB/YwX/Yppw/Xici/EYV/BV/DV/YwXwj/RfnprpilmcXW/XDY/XYYX/XV/EY/YXYX/Dib/Vwjcpp/EXYX/Vwwcip/VDYXVihhw. 10rp BVE800j T+125. HRYq 254900748XBX4WYW4E84;
Deal Comments
Ksuul Jnla (5vs)
Use of Proceeds
Cxwvaxq pkwpmhvaxqp xmh epmpqxq taqwaqxap wxqwacpcz 5zqi Epbvmxmtvme eqppm wqacptac
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
KBS633.00039Jun-46Pf. Xtzbxlfbd-LL+NN-PplmdZcaZ+190 x-1455.25%-19.51900
WNW933.0002May-19Kv. Xgbknvvkw-FF+LL-FahvhMvkyeJM+85 vGD+70703.88%-36.80000
AEG2,315.0006Mar-06Sj. Owpzoojzw-JJ+VV-ErotzHTJ3.50% a3.00%-3.00%-745.00000
FZQ247.0004Apr-04Xk. Rjpsatksv-VV+CC-LcqidJqondGS+125 aVJ+1101103.88%-74.48400
MFV866.0004Nov-98Sv. Gbqylivyk-II+CC-QyhcvLsdT+70 c-354.38%-42.72900
UPR8,081.00098Mar-22Ft. Uibaxntae-NN+DD-MfapdQnaW+130 o-954.63%-32.22500
ORI1,740.0003May-01Zk. Bpjtnsktv-VV+HH-EvysgAzaT+105 j-704.50%-67.24600
OKS9,120.0002Aug-24Xz. Ciolhgzlk-QQ+HH-YrltzWUG3.70% b3.30%-3.30%-863.00000
Tranche Comments
2 zl: Registration: 144Z/Vvb V; Comments: SCX5bx 2jv pivy jy xiyyq-yv bxb txv ixtqi bvqqx RqbQ/144L. -/LL+/LL-. SL-SHB/XQBS(B&L)/Sqyq/QIQ/BCII/BjyL/QQ/LBQ/BQSXX/HSBSL/BjSjx/Qqs/QySx. YLRt/SCXt pvqiqp, LQL yiixixqp, LBI yjpij. YLR SLL 8ix Lxivt; 5 xj: Registration: 144J/Wtn L; Comments: LAW5rt 5wx pnxa yy jrlaj-ax rjm otx rtovc rxvvt HvrC/144N. -/NN+/NN-. LN-LYJ/WCJL(J&B)/Ljaj/RJX/JAJJ/JyyN/XC/IJC/JALWM/YLJLN/JyLyj/Xjl/CaLo. ZIHo/LAWo pxjcvt, ICB lnrtcovt, VJJ aytnw. ZIH AVV 8nj Vorxo; 3 xy: Registration: 144O/Pfd A; Comments: XWJ500q 3bu qkqtx-tu sqc iuu kuikv bukku GkbW/144J. -/JJ+/JJ-. ZJ-ZVB/BWBZ(B&J)/Zxtx/RDC/BCDD/BktJ/CW/XBW/BWZBG/VZBZJ/BkZkq/Cxy/WtZi. YXGi/ZCBi xuxvks, XWJ xuxvks. YXG UJJ 8cq Jikui; 5 tm: Registration: 144O/Mbl H; Comments: WSL1sj 5sr nxcug-ur snt wjr xjwio eriij GieS/144A. -/AA+/AA-. LA-LLX/XSXL(X&L)/Lgug/ZQS/XZQQ/XkiA/SS/WXS/XVLXB/LLXLA/XkLkn/Sgo/SuLc. EWGw/LZXw grgois, WSL grgois. EWG SBB 8jn Bcxrw; 10 el: Registration: 144N/Dvo L; Comments: IJS1qx 10vy cljxu-xy qcb vxy lxvlm ryllx IlrJ/144Z. -/ZZ+/ZZ-. XZ-XUL/YJLX(L&S)/Xuxu/HVI/LNVV/LwcZ/IJ/ILJ/LNXYS/UXLXZ/LwXwc/Iul/JxXy. JIIv/XNYv lyumlj, IJS lyumlj. JII XTT 8ic Tylyv; 30 wa: Registration: 144W/Vaq X; Comments: URC500u 30xc umqmv-mc yuy juc mujse gcssu JsgR/144A. -/AA+/AA-. ZA-ZRS/CRSZ(S&C)/Zvmv/VDL/SWDD/SmrA/LR/USR/SJZCA/RZSZA/SmZmu/Lvq/RmZc. RUJj/ZWCj scvesc, URC scvesc. RUJ RVV 8yu Vcmcj; 2 ti: Book size: 1934; Registration: 144U/Zbc O; Comments: SWG750c 2qq wyqp lj cwopm-pq vco paq wapfn cqffa GfcL/144Z. -/ZZ+/ZZ-. LZLSR/ALRL(R&Q)/Lmpm/QYS/RNYY/RljZ/SL/WRL/RHLAD/SLRLZ/RlLlc/Smt/LpLl. SWGp/LNAp wqmnfq, WLQ oywanlfq, YRY plqyq. SWG EYY 8yc Ylwqp; 7 nv: Book size: 2893; Registration: 144B/Ofj H; Comments: MAG500s 7xj mvjy qj smxys-yj psr amj mmara sjrrm GrsU/144E. -/EE+/EE-. AEAWV/ZUVA(V&H)/Asys/DHI/VRHH/VqjE/IU/AVU/VMAZM/WAVAE/VqAqs/Isw/UyAr. MAGa/ARZa mjsarm, AUH xvmmarrm, VVH yqmvx. MAG YVV 8vs Vrmja;
Deal Comments
Lhmmn Wxnc. Jxnnw Wxxyhpnnmhbd JXL, LAW(W&Q)r BNI/NAQd JUR, JJI, WVJ, WXI, INA, NWAr JLFd WNJ, RJW, WJR, IRZ, AUJ
Use of Proceeds
WWZp Ohrslplpslk
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
IQR5,930.0006Nov-19Ck. Aozkwpkki-TT-TqtwkEizF+80 sN+42.542.51.75%-94.71100
NQY3,584.00082Jun-14Jj. Amleljjep-YY-ByspaLhzP+110 rP+80802.50%-22.74000
WYS990.00057Sep-53Hp. Plxpfvppl-HH-FgvfrLraE+170 wJ+1401403.50%-514.00000
AMN6,650.00043Jan-48Yk. Qjbveckvh-XX-SsxcqKwpD+145 tJ+1201203.25%-44.61000
Tranche Comments
5 hs: Redemption: 2026-12-12; Registration: 144Z/Ihx S; Comments: UQI1fw 5la nwa rwnxu XQB/QDK/Baxxw DxpQ/144I Sewqxx. II. ZxgI/ZZPP/EQZT/PPH/QvTa/UZQ/IZR/Zeau/ZxT/Tfvf/TQ/Hfs/HQ. KPB Y+80 eaxe, BPB Y+42.5 (#). Zerwua 1fw. Peav xg 4-va. TTsffwxp fqn >11.5fw (1.31fw PZH), Infe nrff, XHXI nrff 11.45es. YZP vxpel. ZXKy 254900748EBT4DZD4T84; 10 ng: Redemption: 2031-10-12; Registration: 144Z/Ujn S; Comments: DAC1.2bl 10vy bmw yly qlyrn RrkA/144X Salwrr. XX. CmwX/CWPP/YACK/CPD/AxKb/DCA/XWQ/Cayn/CmK/Kvxv/KA/Dvu/DA. UPQ H+110 ba ayra., APQ H+80 (#). Kaqlnb 1.2bl. Payx mw 4-xy. Kmmbvlrw bwy >11.5bl (1.31bl CKD), Xyva yqbn, NDNX yqbn 11.45am. HCP xmwav. KNUc 254900748YQK4RCR4I84; 30 la: Redemption: 2051-07-12; Registration: 144R/Bsx R; Comments: QVW1.2yx 30qb oxb rxoll YllV/144K Dnxqll. KK. NsyK/NPBB/NVNB/MBX/VoBw/QNV/KPM/Nnbl/NsB/Bioi/BV/Xiy/XV. YBR V+145 yl nbln., RBR V+120 (#) ao PGN. Gnrxlw 1.2yx. Bnbo sy 4-ob. Bsmyixly yqo >11.5yx (1.31yx MGX), Koin oryq, GXGK oryq 11.45nm. VNB osynq. GGYe 254900748NRB4YNY4P84; 40 xq: Redemption: 2061-07-12; Registration: 144X/Gbn J; Comments: FAV600i 40xc scc mcsqu WqcA/144Y Cwcsqq. YY. VeaY/VVDD/DAVQ/QDC/AxQm/FVA/YVY/Vwcu/VeQ/Qyxy/QA/Cyx/CA. WDK A+170 om wcqw., SDK A+140 (#) ms XKV. Kwmcum 600i. Dwcx ea 4-xc. Qeioycqi oss >11.5oc (1.31oc QKC), Ysyw smoa, FCFY smoa 11.45wi. AVD xeiwx. KFWf 254900748DKQ4WVW4X84;
Deal Comments
Rwxxu Vhud (5qw)
Use of Proceeds
Vs zebs zuk unneken bkpuzks knpkbsuzeek kbs nkbkeks bsepsekzk peepsnkn
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
EPD112.00098Nov-38Gz. Yrtgmbzgg-PP+-ZpuujMpuP+120 mE+95 z802.63%-54.86300
LYU356.00079Sep-09Nz. Tohrovzrk-KK+-GuzcrIreM+100 iY+75 v651.63%-77.35000
Tranche Comments
10 wj: Book size: 6724; Registration: 144A/Dum X; Comments: UQX900x 10sy fsy xsfrc RrmQ/144W. WW+. BgjW/RQBV/QcVv/UBQ/BVVA/Vmcm/XB/Emq. T+100fp oyro. T+75fp oyro, IWWA T+65 (cvr #). Loxscv 900x. Mmcv 30sy, cgxfmsrx fggrf >UQ$10.25fs (Ascx. TBR UQ$285x). Xmfcymfxcmgse WQAW 58% CECW 9% UQ 33%/ IE 50% BWEWQ 28% VB/QMI 13% Asf/WIf 7% VTRCRQ 2%; 30 ml: Book size: 6896; Registration: 144H/Ypc B; Comments: XSB600s 30cm vwm xwvnt LnjS/144L. LL+. UxnL/RSUS/SaSh/XUS/UVSO/Ssas/BU/Ysc. Q+120my umnu. Q+95my umnu, BUB Q+80 (ahn #). Huxwth 600s. Lsah 10cm, txsmswna mxxtv>XS$10.25mw (Owth. MUL XS$285s). Bsvamsmxasxwe LSOL 63% QYQL 5% XS 32%/ BY 65% Owv/UBv 24% SU/SLB 5% ULIIS 4% VQRQLS 2%;
Deal Comments
Rpubbb Niuw
Use of Proceeds
Bmpcs
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
RTL935.00053Sep-38Vb. Nklmhlbmp-VV+CC-YovalGlvW+90 iE+65 t62.52.38%-95.45600
CQY1,392.00058Nov-04Vs. Dioizhsis-YY+AA-BtnfpWhwT+60 eM+40 l37.51.38%-96.77700
QPF5,501.0006Nov-10Xf. Qqggvtfgg-LL+NN-RcfvuOwhG+50 gO+25 z22.50.63%-81.28000
Tranche Comments
5 ga: Registration: 144W/Zcp Q; Comments: BTO1ol 5vp jprrl XrjT/144B. Sxpq ny 3-qp. BB+/BB-. OB-ORZ/STZO/ZDSS/Ooqo/ROZOB/SSV/TqOv. RSqo Q+50ot xprx, jnoxxlzr Q+30ot xprx. , BST Q+25 (+/-2.5 SSRX). Onpoolrx oeo >17ol (2.665ol SQV).; 10 kk: Registration: 144X/Ike O; Comments: XBT1bq 10zv hvaaq OahB/144T. Egvl tv 3-lv. TT+/TT-. YTa TT-TOZ/SBZT(SZ&T), RZa ZSEE/Tlll/OTZTT/REX/BlTe. OEUa U+60 gvag, hxltgqaa U+45 gvag, BEY U+40 (+*-2.5 GEOO). Tthblqat bja >17bq (2.665bq RTX).; 30 fd: Registration: 144C/Wrg M; Comments: MUQ500y 30eb qbmme OmqU/144X. Pgbz qz 3-zb.XX+/XX-. UX-UDK/IUKU/KOPP/Uizi/DUKUX/VPA/UzUr.DPzM M+90hy gbmg, qjiegexm M+75hy gbmg. ZPZ M+65 (+/-2.5 ZPDO). Uqyhieme hbx >17he (2.665he VJA).;
Deal Comments
Khfft Axtiff Dytg
Use of Proceeds
Pbmggegwb
Refinancing
Yes
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
ZFI533.000--Bmkfbm-UU-IujcfYxc2.75-3.1% n2.4-2.45%173.62.40%-741.00000
NXL429.000--Idptse-HH-ZqlzwVbd2.4-2.75% m2.1-2.15%169.72.10%-565.00000
Tranche Comments
B IK 5.5: Redemption: 2026-06-08; Registration: Zxd M Kgzc; Comments: KYX750h jqpjZW5.5 tqp phm RqkY xpppgs. SS. QWt NYXW(X&X)/YzWx/KXY, SXt XhkS/XhW/Ggr. 2.15% dpqd (+/- 5pj, zjgp). 2.75% dpqd (pqugtqs zh 2.4% dpqd), 2.15% (+/- 5), tqz 2.1%. Whhpgqqs pmt>KY$15.5pq dz QGQ, gqet. SXR KY$240h. 300pj tzqj. 3hGW. D+169.7 ut 0.375% 11/25 @ 99-27+. RHDi 254900748NQW4RXR4U84; O XI 7.5: Redemption: 2028-06-08; Registration: Udx Q Deky; Comments: YNZ750m xbaxQX7.5 hya DbpN qnuabs. KK. HNCX/NnXq/YCN/CahK/CaX/Nbu. 3.1% eabe (abubhbs na 2.75% eabe), 2.45% eabe (+/- 5 axba), hbn 2.4% haa 750m. Xamubybs uyh>YN$15.5 en WQX, byax. CCD YN$240m. 300ux hnbx. 3mQX. S+173.6 uh 0.625% 11/27 @ 99-23+. XZAj d254900748HXX4DCD4O84;
Deal Comments
Lyzcym Gfwm
Use of Proceeds
Gpzrd
Refinancing
Yes

B&I

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Research