Hong Kong plots Honia-linked floater debut
Central bank hopes floating rate note sale will kick-start new debt market linked to risk-free rate
Hong Kong is planning to issue government debt linked to the local market’s alternative reference rate, the Hong Kong dollar overnight index average (Honia).
A senior regulator says the move is intended to encourage more activity in the new risk-free rate, as Hong Kong pursues its ‘twin rate’ approach to Libor transition.
“We are considering the issuance of a Honia-linked floating rate note
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