Main

Last Update Date:10 August 2018

Notes, Risk Disclosure and Disclaimer

Independence intermediary

Phillip Securities (Hong Kong) Ltd. is an independent intermediary for the product of bonds because:

1. we do not receive fees, commissions, or any other monetary benefits, provided by any party in relation to the distribution of the investment product to you; and

2. we do not have any close links or other legal or economic relationships with the product of bond issuers, or receive any non-monetary benefits from any party, which are likely to impair its independence to favour any bond product, any class of bond products or any bond issuer.

Key Product Risks

It is crucial to understand the specific forms and risks mentioned in the relevant offering documents (if applicable) before investing. Key risks include but are not limited to as stated on the next page:

1.Credit Risk

Investors assume credit risk of the Issuer and the Guarantor (if applicable). Any changes to the credit rating of them will affect the price and value of the bonds. Bonds are subject to the risk of the issuer defaulting on its obligations, i.e. An issuer fails to make principal and interest payments when due. The worst case such as bankruptcy of the Issuer/Guarantor will result in the loss of your entire investment. Credit ratings assigned by credit rating agencies do not guarantee the creditworthiness of the issuer.

2.Liquidity Risk

The bond may have limited liquidity and may not be actively traded and/or quoted by brokers in the market. As such,

(i) The value of bond and/or indicative bid/offer price will depend on market liquidity and conditions and may not be available at all times;

(ii) It may take a longer time or impossible to sell the bond to the market; and;

(iii)The executable sale price may be unfavourably different by large amounts from the indicative bid price quoted.

3.Interest Rate  Risk

Bonds are more susceptible to fluctuations in interest rates and generally prices of bonds will fall when interest rates rise.

4.Market Risk

The value of investments may fluctuate due to changing political, legal, economic conditions and change in interest rate. This is common to all markets and asset classes. Investor may get back an amount substantially less than initially invested.

5.Curreny Risk

For bonds denominated in a foreign currency, there may be an exchange loss when converting the redemption amount back to the local or base currency.

For Product denominated in Renminbi (RMB) or with underlying assets that are denominated in RMB only

Conversion between RMB and foreign currencies, including Hong Kong dollar, subject to PRC regulatory restrictions – RMB is currently not freely convertible and conversion of RMB through banks in Hong Kong is subject to certain restrictions. The PRC government regulates conversation between RMB and foreign currency both in Hong Kong SAR and mainland China, which as a result may affect the liquidity.

High-yield Bonds Risks

In addition to the generic risks listed above, high-yield bonds are subject to risks such as :

1.Higher Credit Risk

Since they are typically rated below investment grade or are unrated and as such are often subject to a higher risk of issuer default;

2.Vulnerability to Economic Cycles

During economic downturns such bonds typically fall more in value than investment grade bonds as (i) investors become more risk averse and (ii) default risk rises.

Some bonds may contain special features and risks that warrant special attention. These include bonds:

1.Risk associated with perpetual debentures

Perpetual debenture does not have a maturity date, and the coupon paymentspay-out depends on the viability of the issuer in the very long term, it may be deferred or even suspended subject to the terms and conditions of the issue. Furthermore perpetual debentures are often callable and/or subordinated, and bear reinvestment risk and/or subordinated bond risk, detailed below.

2.Re-investment Risk of Callable Bond

If the bond is callable in which the issuer may redeem the bond before maturity, it is subject to reinvestment risk. The yield received when re-investing the proceeds may be less favorable.

3.Risk associated with subordinated debentures

Holders of subordinated debentures will bear higher risks than holders of senior debentures of the issuer due to a lower priority of claim in event of the Issuer’s liquidation. Subordinated debentures are unsecured and have lesser priority than that of an additional debt claim of the same asset. They usually have a lower credit rating than senior bonds. Investor’s specific attention is drawn to the credit information of this product, including the respective credit rating of the Issuer, the debenture and/or the guarantor, as the case may be.

4.Risk associated with variable coupon/ coupon deferral features

If the bonds contain variable and/or deferral of interest payment terms and investors would face uncertainty over the amount and time of the interest payments to be received.

5.Risk associated with extendable maturity date

If the bonds contain extendable maturity dates terms and investors would not have a definite schedule of principal repayment.

6.Risk associated with convertible or exchangeable debentures

They are convertible or exchangeable in nature and investors are subject to both equity and bond investment risk; and/or that have contingent write-down or loss absorption feature and the bond may be written-off fully or partially or converted to common stock on the occurrence of a trigger event.

Bonds Trading

Besides traditional stock market, we are also providing the bonds trading and investing services, which let you enjoy a fixed and steady income under the fast changing environment.

About bonds

Bond is an instrument of indebtedness of the bond issuer to the holders. Government, corporations and companies issue bonds to raise fund. Buying bonds is same as lending fund to the issuers, issuers are obliged to pay them interest (the coupon) and/or to repay the principal at a later date, termed the maturity. Bond holders can choose to hold to bonds until it matures or sell it before maturity at the market price.

Why Investing Bonds

  • Enjoy a higher return than bank fixed deposits
  • Receive coupon interest regularly
  • Variety of choice. Select the bonds suit you the most
  • Credit ratings of government bonds are higher than the banks
  • Maturity can be as short as 3 months
  • Withdraw before maturity without charging extra interests
  • Can be used as stock margin deposits*
  • Handling fee as low as 0.15% of the nominal value
  • Generally, Corporate bonds are less volatile than the related stock

*Margin ratio of bonds up to 80%

Bonds

Bonds Investment service in Phillip

We are providing you a comprehensive bonds investment service with a direct hotline, perfect branch network and precise quote service.

  • Minimum Investment amount: HKD 500,000 or minimum niminal value for HKD bonds. USD100,000 for USD bonds.
  • No interest collection charges or redeem fees.
  • Feel free to call us at 2277 6662 to ask for more information and quotes.

查詢

查詢債券最新報價及進行交易,歡迎聯絡您的客戶主任或致電債券投資熱線 2277 6662。
電郵 : bonds@phillip.com.hk


亦可參考本公司於香港金融管理局債券報價網站之最新報價

香港金融管理局債券報價網站

 

債券最新報價亦可參考香港金融管理局的輝立証券(香港)有限公司 債券報價網站
本公司以主事人身分行事,並與以上產品的發行人沒有從屬關係。

 

輝立証券(香港)有限公司已採取措施提供準確而可靠的資料,但並不保證資料絕對無誤,及不擬就有關由第三方提供的資料所出現的錯誤或違漏承擔任何責任。 以上所有資料只供參考用途。投資決定在於您本人。除非你完全明白及願意承擔債券的相關風險,否則你不應投資該產品。 債券表現受發行人的實際和預計借貸能力所影響。就償債責任而言,債券不保證發行人不會拖欠債務。在最壞情況下(如發行者不履行契約),債券持有人可能無法取回債券的利息和本金。
債券主要提供中長期的投資,並不是短線投機的工具。你應準備於整段投資期內將資金投資於有關債券上;若你選擇在到期日之前提早出售債券,可能會損失部份或全部的投資本金。
債券的利息和本金是由發行者償還,債券持有人須承擔發行者的信貸風險。如果發行者不履行契約,債券持有人可能無法取回債券的利息和本金。在此情況下,債券持有人不能向本公司追討任何賠償,並與以上產品的發行人沒有從屬關係。

有關債券的風險請查看此連結

We have performed product due diligence on the list of bonds listed below. Clients may select the right product from list according to their own product risk.
The availability of a reference price for any particular bond is subject to market liquidity. Please contact 2277-6662 for the quotation or further details.

   
High Yield Bonds
Currency Issuer Coupon
(%)
Maturity
(mm/dd/yyyy)
Bid Offer Yield
(%)
Offer Yield
(%)
Risk Min. Piece Increment Redeem
USD BOMBARDIER INC
BBDBCN 7 1/2 03/15/25
7.5 3/15/2025 101.248 101.248 7.207 7.207 High 50000 1000 Y
USD GARUDA ID GLOBAL SUKUK
GARUDA 5.95 06/03/20
5.95 6/3/2020 99.018 99.999 8.096 5.942 High 200000 1000 N
USD INDO ENERGY FINANCE II
INDYIJ 6 3/8 01/24/23
6.375 1/24/2023 100.493 101.035 6.195 6.003 High 200000 1000 Y
USD ZHONGRONG INT RES CO LTD
SDCOKI 7 1/4 10/26/20
7.25 10/26/2020 46.5 46.5 123.503 123.503 High 200000 1000 N
USD LI & FUNG LTD
LIFUNG 5 1/4 PERP
5.25 Perp. 76.791 78.29 6.836 6.705 High 200000 1000 Y
USD CREDIT SUISSE GROUP AG
CS 6 1/4 PERP
6.25 Perp. 108.363 109.017 4.938 4.907 High 200000 1000 Y
USD TBLA INTERNATIONAL PTE L
TBLAIJ 7 01/24/23
7 1/24/2023 99.756 100.571 7.085 6.79 High 200000 1000 Y
USD JIANGSU NANTONG SANJIAN
JINANC 7.8 10/26/20
7.8 10/26/2020 71.046 72.023 53.523 51.515 High 200000 1000 N
USD DAI-ICHI LIFE INSURANCE
DAIL 7 1/4 PERP
7.25 Perp. 106.952 107.484 6.14 6.109 High 50000 1000 Y
USD M&G PLC
MGNLN 6 1/2 10/20/48
6.5 10/20/2048 115.857 116.728 5.216 5.164 High 200000 1000 Y
USD ZOOMLION HK SPV CO LTD
ZOOMLI 6 1/8 12/20/22
6.125 12/20/2022 101.733 102.416 5.494 5.249 High 200000 1000 N
USD BHP BILLITON FIN USA LTD
BHP 6 1/4 10/19/75
6.25 10/19/2075 102.846 103.31 6.41 6.38 High 200000 1000 Y
USD ABJA INVESTMENT CO
TATAIN 5.95 07/31/24
5.95 7/31/2024 104.235 104.857 4.915 4.767 High 200000 1000 N
USD AGILE GROUP HOLDINGS LTD
AGILE 8 3/8 PERP
8.375 Perp. 103.571 104.175 10.965 10.908 High 200000 1000 Y
USD AGILE GROUP HOLDINGS LTD
AGILE 9 1/2 11/23/20
9.5 11/23/2020 104.501 104.919 4.571 4.131 High 200000 1000 N
USD GLOBAL PRIME CAPITAL
BSDEIJ 7 1/4 04/26/21
7.25 4/26/2021 103.043 103.72 4.919 4.415 High 200000 1000 Y
USD CHINA AOYUAN GROUP LTD
CAPG 6.35 01/11/20
6.35 1/11/2020 99.995 100.243 6.247 3.134 High 200000 1000 N
USD CHINA AOYUAN GROUP LTD
CAPG 7 1/2 05/10/21
7.5 5/10/2021 102.532 102.987 5.599 5.266 High 200000 1000 Y
USD CHINA AOYUAN GROUP LTD
CAPG 7.95 02/19/23
7.95 2/19/2023 104.758 105.303 6.273 6.088 High 200000 1000 Y
USD CHINA AOYUAN GROUP LTD
CAPG 8 1/2 01/23/22
8.5 1/23/2022 104.958 105.463 5.96 5.711 High 200000 1000 Y
USD CENTRAL CHINA REAL ESTAT
CENCHI 8 3/4 01/23/21
8.75 1/23/2021 101.944 102.493 6.89 6.379 High 200000 1000 Y
USD CFLD CAYMAN INVESTMENT
CHFOTN 6 1/2 12/21/20
6.5 12/21/2020 100.143 100.383 6.351 6.106 Middle 200000 1000 N
USD CFLD CAYMAN INVESTMENT
CHFOTN 8.6 04/08/24
8.6 4/8/2024 100.668 101.324 8.407 8.224 Middle 200000 1000 N
USD FRANSHION DEVELOPMENT
CHJMAO 6 3/4 04/15/21
6.75 4/15/2021 104.82 104.977 3.045 2.928 Middle 200000 1000 N
USD COUNTRY GARDEN HLDGS
COGARD 5 1/8 01/17/25
5.125 1/17/2025 99.799 100.291 5.169 5.058 High 200000 1000 Y
USD COUNTRY GARDEN HLDG CO
COGARD 7 1/2 03/09/20
7.5 3/9/2020 100.696 101.065 4.468 2.953 High 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 7 1/4 04/04/21
7.25 4/4/2021 99.999 100.497 7.238 6.835 High 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 7 1/4 04/08/26
7.25 4/8/2026 107.65 108.172 5.785 5.69 High 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 7 1/8 01/27/22
7.125 1/27/2022 105.759 106.228 4.257 4.033 High 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 8 01/27/24
8 1/27/2024 108.352 108.853 5.697 5.566 High 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 10 7/8 08/24/20
10.875 8/24/2020 98.051 98.881 13.835 12.54 High 200000 1000 N
USD CHINA SOUTH CITY HOLDING
CSCHCN 5 3/4 03/09/20
5.75 3/9/2020 98.148 98.959 13.55 10.061 High 200000 1000 N
USD CHINA SOUTH CITY HOLDING
CSCHCN 6 3/4 09/13/21
6.75 9/13/2021 89.828 90.315 13.448 13.104 High 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 7 1/4 11/20/22
7.25 11/20/2022 84.658 85.546 13.773 13.356 High 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 10 04/11/23
10 4/11/2023 91.592 92.14 13.189 12.969 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 10 1/2 04/11/24
10.5 4/11/2024 91.146 91.741 13.241 13.046 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 6 1/4 06/28/21
6.25 6/28/2021 93.264 93.744 11.12 10.757 High 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 7 03/23/20
7 3/23/2020 98.937 99.518 10.774 8.642 High 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 7 1/2 06/28/23
7.5 6/28/2023 84.303 84.879 13.186 12.955 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 8 1/4 03/23/22
8.25 3/23/2022 90.76 91.359 13.053 12.722 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 8 3/4 06/28/25
8.75 6/28/2025 81.285 81.901 13.673 13.489 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 9 1/2 03/29/24
9.5 3/29/2024 88.245 88.867 13.159 12.95 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 9 1/2 04/11/22
9.5 4/11/2022 92.494 93.03 13.339 13.051 High 200000 1000 N
USD FANTASIA HOLDINGS GROUP
FTHDGR 11 3/4 04/17/22
11.75 4/17/2022 101.36 102.144 11.059 10.676 High 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 7 3/8 10/04/21
7.375 10/4/2021 96.349 97.085 9.61 9.149 High 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 7.95 07/05/22
7.95 7/5/2022 92.846 93.827 11.236 10.767 High 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 8 3/8 03/08/21
8.375 3/8/2021 99.488 100.44 8.802 7.976 High 200000 1000 N
USD NEW METRO GLOBAL LTD
FTLNHD 6 1/2 04/23/21
6.5 4/23/2021 98.343 98.898 7.797 7.356 Middle 200000 1000 Y
USD NEW METRO GLOBAL LTD
FTLNHD 7 1/2 03/20/22
7.5 3/20/2022 98.766 99.413 8.097 7.778 Middle 200000 1000 Y
USD SEAZEN GROUP LTD
FUTLAN 5 02/16/20
5 2/16/2020 99.255 99.783 9.176 6.153 High 200000 1000 N
USD GLP PTE LTD
GLPSP 3 7/8 06/04/25
3.875 6/4/2025 101.107 101.496 3.65 3.572 High 200000 1000 N
USD EASY TACTIC LTD
GZRFPR 7 04/25/21
7 4/25/2021 100.12 100.584 6.897 6.538 Middle 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 11 1/4 04/09/22
11.25 4/9/2022 101.246 101.801 10.614 10.342 High 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 11.95 10/22/22
11.95 10/22/2022 101.212 101.713 11.427 11.219 High 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 8 1/2 06/30/22
8.5 6/30/2022 94.536 95.091 11.014 10.75 High 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 9 3/8 06/30/24
9.375 6/30/2024 88.249 88.936 12.865 12.645 High 200000 1000 Y
USD LODHA DEVELOPERS INTL
LODHA 12 03/13/20
12 3/13/2020 80.05 80.05 110.536 110.536 High 200000 1000 Y
USD LOGAN PROPERTY HOLDINGS
LOGPH 5 1/4 02/23/23
5.25 2/23/2023 98.292 98.81 5.845 5.664 High 200000 1000 Y
USD LOGAN PROPERTY HOLDINGS
LOGPH 6 7/8 04/24/21
6.875 4/24/2021 102.29 102.74 5.109 4.77 High 200000 1000 Y
USD LOGAN PROPERTY HOLDINGS
LOGPH 7 1/2 08/27/21
7.5 8/27/2021 103.399 103.91 5.38 5.071 High 200000 1000 Y
USD GEMSTONES INTERNATIONAL
LVGEM 8 1/2 08/15/20
8.5 8/15/2020 98.744 99.488 10.444 9.269 High 200000 1000 N
USD MODERN LAND CHINA CO LTD
MOLAND 12.85 10/25/21
12.85 10/25/2021 95.851 96.689 15.464 14.919 High 200000 1000 N
USD MODERN LAND CHINA CO LTD
MOLAND 7.95 03/05/21
7.95 3/5/2021 92.814 93.805 14.518 13.567 High 200000 1000 N
USD OXLEY MTN PTE LTD
OHLSP 6 3/8 04/21/21
6.375 4/21/2021 95.995 97.306 9.583 8.51 High 200000 1000 N
USD POWERLONG REAL ESTATE
PWRLNG 5.95 07/19/20
5.95 7/19/2020 99.907 100.398 6.098 5.257 High 200000 1000 N
USD POWERLONG REAL ESTATE
PWRLNG 6.95 04/17/21
6.95 4/17/2021 100.867 101.372 6.259 5.865 High 200000 1000 N
USD POWERLONG REAL ESTATE
PWRLNG 6.95 07/23/23
6.95 7/23/2023 98.158 98.818 7.539 7.325 High 200000 1000 Y
USD RKPF OVERSEAS 2019 B
ROADKG 7 3/4 04/18/21
7.75 4/18/2021 103.803 104.228 4.794 4.474 High 200000 1000 N
USD RKPF OVERSEAS 2019 A LTD
ROADKG 7 7/8 02/01/23
7.875 2/1/2023 105.721 106.28 5.846 5.656 High 200000 1000 Y
USD RKI OVERSEAS FIN 2017 A
ROADKG 7 PERP
7 Perp. 85.031 86.03 8.232 8.136 High 200000 1000 Y
USD RKP OVERSEAS FI 2016 A
ROADKG 7.95 PERP
7.95 Perp. 94.985 95.977 8.368 8.282 High 200000 1000 Y
USD RONSHINE CHINA
RONXIN 11 1/4 08/22/21
11.25 8/22/2021 105.854 106.323 7.486 7.198 High 200000 1000 N
USD RONSHINE CHINA
RONXIN 6.95 12/08/19
6.95 12/8/2019 100.04 100.497 - - High 200000 1000 Y
USD RONSHINE CHINA
RONXIN 8 1/4 02/01/21
8.25 2/1/2021 100.963 101.527 7.335 6.815 High 200000 1000 N
USD SHIMAO PROPERTY HLDGS
SHIMAO 5.6 07/15/26
5.6 7/15/2026 103.791 104.288 4.919 4.831 High 200000 1000 Y
USD SHUI ON DEVELOPMENT HLDG
SHUION 5.7 02/06/21
5.7 2/6/2021 100.901 101.363 4.876 4.462 High 200000 1000 N
USD SHUI ON DEVELOPMENT HLDG
SHUION 6.4 PERP
6.4 Perp. 99.684 100.24 8.769 8.723 High 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 6 7/8 08/08/20
6.875 8/8/2020 100.898 101.375 5.441 4.698 High 200000 1000 N
USD SUNAC CHINA HOLDINGS LTD
SUNAC 7.95 08/08/22
7.95 8/8/2022 102.463 102.975 6.912 6.701 High 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 8 3/4 12/05/19
8.75 12/5/2019 100.018 100.293 - - High 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 8.35 04/19/23
8.35 4/19/2023 103.347 103.879 7.202 7.025 High 200000 1000 Y
USD YANGO JUSTICE INTL
SUNSHI 10 1/4 03/18/22
10.25 3/18/2022 98.95 99.656 10.732 10.374 High 200000 1000 Y
USD YANGO JUSTICE INTL
SUNSHI 9 1/2 04/03/21
9.5 4/3/2021 99.768 100.432 9.671 9.121 High 200000 1000 N
USD SCENERY JOURNEY LTD
TIANHL 11 11/06/20
11 11/6/2020 101.319 101.758 9.408 8.895 High 200000 1000 N
USD SCENERY JOURNEY LTD
TIANHL 13 11/06/22
13 11/6/2022 100.57 101.026 12.745 12.553 High 200000 1000 Y
USD SCENERY JOURNEY LTD
TIANHL 13 3/4 11/06/23
13.75 11/6/2023 100.715 101.206 13.496 13.331 High 200000 1000 Y
USD VLL INTERNATIONAL INC
VLLPM 7 3/8 06/18/22
7.375 6/18/2022 109.199 109.779 3.519 3.29 High 200000 1000 N
USD XINYUAN REAL ESTATE
XIN 7 3/4 02/28/21
7.75 2/28/2021 83.544 85.014 24.206 22.551 High 200000 1000 N
USD XINYUAN REAL ESTATE
XIN 8 7/8 11/22/20
8.875 11/22/2020 87.467 88.002 24.547 23.807 High 200000 1000 N
USD XINYUAN REAL ESTATE
XIN 9 7/8 03/19/20
9.875 3/19/2020 94.001 95.01 33.613 29.377 High 200000 1000 N
USD PANDA GREEN ENERGY GROUP
GDPOLY 8 1/4 01/25/20
8.25 1/25/2020 97.3 97.3 31.248 31.248 High 200000 1000 N
USD BAOXIN AUTO FINANCE I LT
CHGRAU 7.9 02/09/20
7.9 2/9/2020 98.248 99.021 18.987 13.957 High 200000 1000 N
USD GUANGHUI INVESTMENT GR
GUANGH 7 7/8 03/30/20
7.875 3/30/2020 91.179 93.635 40.477 30.756 High 200000 1000 N
USD REPUBLIC OF INDONESIA
INDON 5 1/8 01/15/45
5.125 1/15/2045 118.963 119.601 3.929 3.894 High 200000 1000 N
USD REPUBLIC OF SRI LANKA
SRILAN 6 1/4 10/04/20
6.25 10/4/2020 100.818 101.452 5.191 4.392 High 100000 1000 N
USD REPUBLIC OF SRI LANKA
SRILAN 6 1/8 06/03/25
6.125 6/3/2025 95.063 95.838 7.233 7.054 High 200000 1000 N
USD REPUBLIC OF VENEZUELA
VENZ 11 3/4 10/21/26 (Offer Suspended)
11.75 10/21/2026 11.214 12.259 86.116 80.706 - 50000 100 N
USD REPUBLIC OF VENEZUELA
VENZ 9 05/07/23 (Offer Suspended)
9 5/7/2023 10.922 12.129 107.098 100.747 - 50000 100 N
USD HUTCHISON WHAM INT 03/33
CKHH 7.45 11/24/33
7.45 11/24/2033 146.56 147.673 3.267 3.189 Middle 100000 1000 N
USD WISEYEAR HOLDINGS LTD
KERPRO 5 7/8 04/06/21
5.875 4/6/2021 103.458 103.62 3.163 3.04 Middle 200000 1000 N
USD FORTUNE STAR BVI LTD
FOSUNI 5 3/8 12/05/20
5.375 12/5/2020 100.356 100.905 4.996 4.418 Middle 200000 1000 N
USD FORTUNE STAR BVI LTD
FOSUNI 5.95 01/29/23
5.95 1/29/2023 100.284 100.962 5.846 5.608 Middle 200000 1000 Y
USD FORTUNE STAR BVI LTD
FOSUNI 6 3/4 07/02/23
6.75 7/2/2023 102.346 102.874 6.005 5.841 Middle 200000 1000 Y
USD FORTUNE STAR BVI LTD
FOSUNI 6 7/8 01/31/21
6.875 1/31/2021 102.12 102.596 4.917 4.488 Middle 200000 1000 N
USD SOFTBANK GROUP CORP
SOFTBK 4 3/4 09/19/24
4.75 9/19/2024 101.21 101.844 4.464 4.316 Middle 200000 1000 Y
USD SOFTBANK GROUP CORP
SOFTBK 5 3/8 07/30/22
5.375 7/30/2022 103.312 104.1 4.033 3.722 High 200000 1000 Y
USD SOFTBANK GROUP CORP
SOFTBK 6 7/8 PERP
6.875 Perp. 95.209 96.109 6.975 6.908 High 200000 1000 Y
USD PCCW CAPITAL NO 4 LTD
PCCW 5 3/4 04/17/22
5.75 4/17/2022 106.041 106.267 3.058 2.961 Middle 200000 1000 N
SGD LOGAN PROPERTY HOLDINGS
LOGPH 6 1/8 04/16/21
6.125 4/16/2021 101.754 102.234 4.755 4.388 High 250000 1000 Y
SGD OLAM INTERNATIONAL LTD
OLAMSP 6 10/25/22
6 10/25/2022 105.637 105.9 3.902 3.807 High 250000 250000 N
GBP GOLDMAN SACHS GROUP INC
GS 6 7/8 01/18/38
6.875 1/18/2038 149.824 151.489 3.22 3.127 High 50000 1000 N
GBP BHP BILLITON FINANCE LTD
BHP 6 1/2 10/22/77
6.5 10/22/2077 112.424 113.137 5.154 5.119 High 100000 1000 Y
GBP ELECTRICITE DE FRANCE SA
EDF 6 PERP
6 Perp. 110.716 111.646 4.742 4.7 High 100000 100000 Y
AUD VIRGIN AUSTRALIA HOLDING
VAHAU 8 1/4 05/30/23
8.25 5/30/2023 101.33 102.085 7.803 7.553 High 100000 10000 Y
Local Bank Bonds
Currency Issuer Coupon
(%)
Maturity
(mm/dd/yyyy)
Bid Offer Yield
(%)
Offer Yield
(%)
Risk Min. Piece Increment Redeem
USD BARCLAYS BANK PLC
BACR 5.14 10/14/20
5.14 10/14/2020 101.714 102.187 3.043 2.477 Middle 100000 1000 N
USD BANGKOK BANK PCL/HK
BBLTB 9.025 03/15/29
9.025 3/15/2029 141.744 142.408 3.665 3.596 High 100000 1000 N
USD BANK OF EAST ASIA LTD
BNKEA 6 1/8 07/16/20
6.125 7/16/2020 101.811 101.94 3.008 2.791 Middle 100000 1000 N
USD CHINA CITIC BANK INTL
CINDBK 6 7/8 06/24/20
6.875 6/24/2020 101.994 102.127 3.055 2.805 Middle 100000 1000 N
USD CREDIT SUISSE NEW YORK
CS 5.4 01/14/20
5.4 1/14/2020 100.282 100.31 2.073 1.755 Middle 50000 1000 N
USD DAH SING BANK LTD
DAHSIN 6 5/8 02/11/20
6.625 2/11/2020 100.569 100.6 3.009 2.821 Middle 100000 1000 N
USD ICBC ASIA LTD
ICBCAS 5 1/8 11/30/20
5.125 11/30/2020 102.157 102.314 2.839 2.676 Low 100000 1000 N
USD ING GROEP NV
INTNED 6 PERP
6 Perp. 100.8 101.232 6.041 6.016 High 200000 1000 Y
USD LLOYDS BANK PLC
LLOYDS 12 PERP
12 Perp. 120.904 121.559 10.816 10.76 High 100000 1000 Y
USD LLOYDS BANK PLC
LLOYDS 6 1/2 09/14/20
6.5 9/14/2020 102.901 103.05 2.577 2.381 Middle 100000 1000 N
USD ST SAVINGS BK (SSB #1)
OSCHAD 9 3/8 03/10/23
9.375 3/10/2023 104.206 104.982 7.872 7.604 High 200000 1000 N
USD STANDARD CHARTERED BK HK
STANLN 5 7/8 06/24/20
5.875 6/24/2020 101.578 101.671 2.855 2.68 Middle 100000 1000 N
USD YAPI VE KREDI BANKASI AS
YKBNK 5 1/2 12/06/22
5.5 12/6/2022 98.221 99.529 6.162 5.673 Middle 200000 1000 N
USD CREDIT AGRICOLE SA
ACAFP Float PERP
3.14625 Perp. 90.344 91.588 3.457 3.41 High 100000 1000 Y
USD SOCIETE GENERALE
SOCGEN 4 1/4 08/19/26
4.25 8/19/2026 104.756 105.328 3.446 3.353 High 200000 1000 N
USD SOCIETE GENERALE
SOCGEN 5 01/17/24
5 1/17/2024 107.406 107.922 3.061 2.932 High 200000 1000 N
USD SOCIETE GENERALE
SOCGEN 7 7/8 PERP
7.875 Perp. 111.809 112.433 6.168 6.132 High 200000 1000 Y
USD STANDARD CHARTERED PLC
STANLN 3.95 01/11/23
3.95 1/11/2023 102.699 103.012 3.024 2.919 High 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 4.3 02/19/27
4.3 2/19/2027 104.881 105.486 3.524 3.431 High 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 5.2 01/26/24
5.2 1/26/2024 107.504 108.057 3.239 3.101 Middle 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 5.7 01/25/22
5.7 1/25/2022 105.69 106.077 2.907 2.724 Middle 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 7.014 PERP
7.014 Perp. 118.586 119.511 4.516 4.47 High 100000 100000 Y
SGD ICICI BANK LTD/DUBAI
ICICI 3.65 01/14/20
3.65 1/14/2020 100.166 100.339 1.734 -0.213 High 250000 250000 N
GBP STANDARD CHARTERED PLC
STANLN 5 1/8 06/06/34
5.125 6/6/2034 119.843 121.156 3.369 3.266 High 100000 1000 N
EUR BNP PARIBAS
BNP 4 7/8 PERP (Offer Suspended)
4.875 Perp. 103 103 - - High 50000 1000 Y
AUD SOCIETE GENERALE
SOCGEN 5 07/20/28
8 7/20/2028 106.633 106.934 3.577 3.537 High 200000 2000 Y
US Dollar & Other Currency Bonds
Currency Issuer Coupon
(%)
Maturity
(mm/dd/yyyy)
Bid Offer Yield
(%)
Offer Yield
(%)
Risk Min. Piece Increment Redeem
USD
USD SINOCHEM INT DEV PTE LTD
SININT 3 1/8 07/25/22
3.125 7/25/2022 100.22 100.48 3.036 2.932 Middle 200000 1000 N
USD BOC AVIATION LTD
BOCAVI 3 03/30/20
3 3/30/2020 100.077 100.149 2.722 2.48 Middle 200000 1000 N
USD BAIDU INC
BIDU 3 1/2 11/28/22
3.5 11/28/2022 102.434 102.691 2.639 2.55 Low 200000 1000 N
USD COUNTRY GARDEN HLDGS
COGARD 4 3/4 07/25/22
4.75 7/25/2022 100.258 100.726 4.642 4.451 Middle 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 4 3/4 09/28/23
4.75 9/28/2023 99.623 100.15 4.858 4.704 High 200000 1000 Y
USD ESTATE SKY LTD
CSIPTY 4 7/8 08/08/21
4.875 8/8/2021 98.152 98.499 6.062 5.836 High 200000 1000 N
USD HONGKONG LAND FINANCE
HKLSP 4 1/2 06/01/22
4.5 6/1/2022 104.486 104.726 2.61 2.512 Low 200000 1000 N
USD NAN FUNG TREASURY LTD
NANFUN 4 1/2 09/20/22
4.5 9/20/2022 103.668 103.914 3.106 3.015 Middle 200000 1000 N
USD PCPD CAPITAL
PCPDC 4 3/4 03/09/22
4.75 3/9/2022 100.748 101.129 4.393 4.213 High 200000 1000 N
USD SAN MIGUEL CORP
SMCPM 4 7/8 04/26/23
4.875 4/26/2023 100.381 100.974 4.75 4.558 High 200000 1000 Y
USD UKRAINE GOVERNMENT
UKRAIN 0 05/31/40
- 5/31/2040 93.008 94.063 - - High 50000 1000 N
USD HUTCH WHAMPOA INT 12 II
CKHH 3 1/4 11/08/22
3.25 11/8/2022 102.03 102.21 2.52 2.456 Middle 200000 1000 N
USD CHINA OIL AND GAS GROUP
CHIOIL 4 5/8 04/20/22
4.625 4/20/2022 100.414 100.985 4.435 4.179 High 200000 1000 Y
USD PCCW-HKT CAPITAL NO5 LTD
PCCW 3 3/4 03/08/23
3.75 3/8/2023 102.553 102.805 2.916 2.836 Middle 200000 1000 N
USD HKT CAPITAL NO 2 LTD
PCCW 3 5/8 04/02/25
3.625 4/2/2025 102.518 102.898 3.106 3.029 Middle 200000 1000 N
TRY
TRY EUROPEAN INVESTMENT BANK
EIB 0 09/05/22 (Offer Suspended)
- 9/5/2022 74.625 75.517 11.319 10.836 Low 50000 1000 N
SGD
SGD WHEELOCK FINANCE LTD
WHEELK 4 1/2 09/02/21
4.5 9/2/2021 103.206 103.571 2.584 2.371 Middle 250000 250000 N
SGD GLL IHT PTE LTD
GUOLSP 4.1 05/13/20
4.1 5/13/2020 100.454 100.608 2.963 2.585 High 250000 250000 N
GBP
GBP BHP BILLITON FINANCE LTD
BHP 3 1/4 09/25/24
3.25 9/25/2024 109.158 109.63 1.264 1.168 Middle 100000 1000 N
GBP AMERICAN INTL GROUP
AIG Float 03/15/37
2.48963 3/15/2037 82.663 88.3 3.87 3.386 High 50000 50000 Y
GBP HEATHROW FINANCE PLC
HTHROW 4 3/4 03/01/24
4.75 3/1/2024 106.651 107.418 3.056 2.869 High 100000 1000 Y
GBP HEATHROW FINANCE PLC
HTHROW 5 3/4 03/03/25
5.75 3/3/2025 110.778 111.676 3.474 3.297 High 100000 1000 N
GBP VODAFONE GROUP PLC
VOD 3 08/12/56
3 8/12/2056 96.973 98.469 3.14 3.07 High 100000 1000 N
EUR
EUR BULGARIA
BGARIA 2 5/8 03/26/27
2.625 3/26/2027 117.995 118.49 0.14 0.078 - 100000 1000 N
債券最新報價亦可參考香港金融管理局的輝立証券(香港)有限公司 債券報價網站
本公司以主事人身分行事,並與以上產品的發行人沒有從屬關係。

 

輝立証券(香港)有限公司已採取措施提供準確而可靠的資料,但並不保證資料絕對無誤,及不擬就有關由第三方提供的資料所出現的錯誤或違漏承擔任何責任。 以上所有資料只供參考用途。投資決定在於您本人。除非你完全明白及願意承擔債券的相關風險,否則你不應投資該產品。 債券表現受發行人的實際和預計借貸能力所影響。就償債責任而言,債券不保證發行人不會拖欠債務。在最壞情況下(如發行者不履行契約),債券持有人可能無法取回債券的利息和本金。
債券主要提供中長期的投資,並不是短線投機的工具。你應準備於整段投資期內將資金投資於有關債券上;若你選擇在到期日之前提早出售債券,可能會損失部份或全部的投資本金。
債券的利息和本金是由發行者償還,債券持有人須承擔發行者的信貸風險。如果發行者不履行契約,債券持有人可能無法取回債券的利息和本金。在此情況下,債券持有人不能向本公司追討任何賠償,並與以上產品的發行人沒有從屬關係。

有關債券的風險請查看此連結

01
Open a Phillip foreign stock account with submitting the Risk Profile Questionnaire and W8 form together.
02
Asking for quotes and placing orders through phone or email.*
*Please make sure the account balance is enough for the trade before placing an order. Please state the bond name, coupon rate, maturity date, account number, client name and ISIN code(if any) when placing order through email.
03
Trades will be confirmed full telephone, if the orders are placed by email, confirmation will be made through email as well.
04
Trade confirmation will be sent through email within 24 hours after the trade had done.
05
Amount will be deducted on the third working day (T+3) after the order placed.^
^Please deposit the amount into your Phillip account before T+2 if your account does not have enough balance. If the deposit is made by cashier’s order, please deposit before T+1 and fax us the receipt at 28774554.
債券最新報價亦可參考香港金融管理局的輝立証券(香港)有限公司 債券報價網站
本公司以主事人身分行事,並與以上產品的發行人沒有從屬關係。

 

輝立証券(香港)有限公司已採取措施提供準確而可靠的資料,但並不保證資料絕對無誤,及不擬就有關由第三方提供的資料所出現的錯誤或違漏承擔任何責任。 以上所有資料只供參考用途。投資決定在於您本人。除非你完全明白及願意承擔債券的相關風險,否則你不應投資該產品。 債券表現受發行人的實際和預計借貸能力所影響。就償債責任而言,債券不保證發行人不會拖欠債務。在最壞情況下(如發行者不履行契約),債券持有人可能無法取回債券的利息和本金。
債券主要提供中長期的投資,並不是短線投機的工具。你應準備於整段投資期內將資金投資於有關債券上;若你選擇在到期日之前提早出售債券,可能會損失部份或全部的投資本金。
債券的利息和本金是由發行者償還,債券持有人須承擔發行者的信貸風險。如果發行者不履行契約,債券持有人可能無法取回債券的利息和本金。在此情況下,債券持有人不能向本公司追討任何賠償,並與以上產品的發行人沒有從屬關係。

有關債券的風險請查看此連結

Bond is a debt instrument, the purpose of the issuance of bonds is to raise funds by borrowing from the public. Generally, there are terms for each bonds stating the maturity date which principals will be repaid and the coupon interest payment date.

Government Bond

The bonds issue by state or government in its currency. For example, The US department of the Treasury issues bond s to raise funds for the US government.

Semi-Government Bond

The bonds issue by public corporations, which level is lower than government bonds, but the credit ratings of these two bonds are normally the same. E.g.: The Hong Kong Airport Authority (HKAA), Hong Kong Mortgage Corporation Limited (HKMTGC)

Corporate Bond

Mostly issue by private corporations. E.g.: Hutchison Whampoa Limited

Types

Fixed Rate Bond

Interest rate of this bond is fixed, the rate will not change until maturity.

Zero coupon Bond

Holder of this kind of bonds do not entitle any interest, but usually the price of this kind of bond is discounted and the benefits of investing in this bond can be reflected by its bond price

Floating Rate Bond

This bond has a floating interest rate, which depends on the change in market interest rate. Normally the rate takes reference from market rates like HIBOR and LIBOR.

Features of bonds

Coupon rate

The interest rate that will be paid by the issuer per annum

Maturity date

The date when issuer repay the face value to bondholders, normally at 100%

Remaining Tenor

Remaining time to maturity

Yield

The rate of return of the bond

Credit rating

An indication reflecting the bond issuer's financial status and the bond's credit quality.

債券最新報價亦可參考香港金融管理局的輝立証券(香港)有限公司 債券報價網站
本公司以主事人身分行事,並與以上產品的發行人沒有從屬關係。

 

輝立証券(香港)有限公司已採取措施提供準確而可靠的資料,但並不保證資料絕對無誤,及不擬就有關由第三方提供的資料所出現的錯誤或違漏承擔任何責任。 以上所有資料只供參考用途。投資決定在於您本人。除非你完全明白及願意承擔債券的相關風險,否則你不應投資該產品。 債券表現受發行人的實際和預計借貸能力所影響。就償債責任而言,債券不保證發行人不會拖欠債務。在最壞情況下(如發行者不履行契約),債券持有人可能無法取回債券的利息和本金。
債券主要提供中長期的投資,並不是短線投機的工具。你應準備於整段投資期內將資金投資於有關債券上;若你選擇在到期日之前提早出售債券,可能會損失部份或全部的投資本金。
債券的利息和本金是由發行者償還,債券持有人須承擔發行者的信貸風險。如果發行者不履行契約,債券持有人可能無法取回債券的利息和本金。在此情況下,債券持有人不能向本公司追討任何賠償,並與以上產品的發行人沒有從屬關係。

有關債券的風險請查看此連結

Promotion materials are in Chinese only, please contact (852) 2277 6536 for any enquiry.

Hotline:2277 6536   Product Development

E-mail:smp@phillip.com.hk

 

The Company reserves the right to alter these terms and conditions without prior notice and has final and irrevocable discretion in case of dispute.

Investment involves risks. Please refer to the Risk Disclosures Statement on our website at www.poems.com.hk.

You may contact our Customer Service Department at cs@phillip.com.hk or 2277 6555 to opt out from receiving marketing materials.

ItemDescription of fees
Bonds Transaction Cost
Handling Fee 0.15% of Consideration (Except 0.10% of Consideration, for Investment Grade Bond with duration =< 1 Year.)
Custodian Fee 0.05% of nominal value per annum, charged on monthly basis (Minimum HKD25)
Transfer HKD400
Interest Collection & Maturity Redemption Fee Waived

How to Trade Bonds with us?

If you have a Phillip Account, you can place your order by contacting your broker or the bond department. You can open a Phillip account at any branches if you don't have one yet.

Do the bonds have any margin value?

We've set different margin value for each bonds, which may up to 70%.

What currencies' bond can we trade?

Our foreign exchange service includes HKD, USD, AUD, NZD and GBP.

How to redeem the bonds?

We will help you redeem the bonds when they mature and deposit the total amount into your Phillip account without any charges.

Are there any extra charges beside commission?An accrued interest will be charged. For example, if you buy the bonds of ICBC at the nominal value 1,000,000 at 100.49% and there are 65 days between the settlement day and the last coupon payment day, so at the day of settlement, you have to pay $1,004,900 of principal plus $2617.81 of accrued interest.

A custodian fee will also be charged at 0.05% of the nominal value of the bonds or a minimum charge at HK$25 monthly. For example, the face value of a bond is 1,000,000, a custodian fee of $41.67 (1,000,000*0.05%/12=$41.67) will be charged per month. The custodian fee will be deducted from your Phillip account at the end of each month.

How to benefit from investing bonds?

Bonds provide interest, generally, you can receive a steady interest income every year, also the yield of bonds are normally higher than the bank deposit rate. In addition, you can sell the bond at the market to make a profit when its price rises.

Do I have to hold the bond until it matures?

Besides holding the bond until it matures, you can sell it at the secondary market when its price rises to make a profit.

What is accrued interest?

Besides principals, an accrued interest will also be charged when buying bonds from the secondary market. Accrued interest is the interest of the bonds between the settlement date and the previous coupon interest payment date which should be entitled by the bondholder, therefore the buyers have to pay the sellers an accrued interest when buying the bonds.
Bonds
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