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 94.969 96.914 8.682 8.215 High 50000 1000 Y
USD GARUDA ID GLOBAL SUKUK
GARUDA 5.95 06/03/20
5.95 6/3/2020 98.993 99.762 7.605 6.328 High 200000 1000 N
USD INDO ENERGY FINANCE II
INDYIJ 6 3/8 01/24/23
6.375 1/24/2023 100.988 101.619 6.033 5.82 High 200000 1000 Y
USD ZHONGRONG INT RES CO LTD
SDCOKI 7 1/4 10/26/20
7.25 10/26/2020 55.375 55.375 78.175 78.175 High 200000 1000 N
USD LI & FUNG LTD
LIFUNG 5 1/4 PERP
5.25 Perp. 75.193 76.917 6.982 6.825 High 200000 1000 Y
USD CREDIT SUISSE GROUP AG
CS 6 1/4 PERP
6.25 Perp. 106.021 106.637 4.976 4.946 High 200000 1000 Y
USD TBLA INTERNATIONAL PTE L
TBLAIJ 7 01/24/23
7 1/24/2023 98.403 99.219 7.555 7.267 High 200000 1000 Y
USD HSIN CHONG GROUP HOLDING
HSINCG 8 1/2 01/22/19
8.5 1/22/2019 15.77 20.301 53.9 41.87 High 200000 1000 N
USD DAI-ICHI LIFE INSURANCE
DAIL 7 1/4 PERP
7.25 Perp. 107.355 107.904 6.219 6.187 High 50000 1000 Y
USD PRUDENTIAL PLC
PRUFIN 6 1/2 10/20/48
6.5 10/20/2048 117.294 118.192 5.092 5.039 High 200000 1000 Y
USD ZOOMLION HK SPV CO LTD
ZOOMLI 6 1/8 12/20/22
6.125 12/20/2022 101.129 101.723 5.728 5.523 High 200000 1000 N
USD BHP BILLITON FIN USA LTD
BHP 6 1/4 10/19/75
6.25 10/19/2075 103.308 103.797 6.279 6.249 High 200000 1000 Y
USD ABJA INVESTMENT CO
TATAIN 5.95 07/31/24
5.95 7/31/2024 105.028 105.698 4.761 4.608 High 200000 1000 N
USD FORTUNE STAR BVI LTD
FOSUNI 5 3/8 12/05/20
5.375 12/5/2020 100.377 100.907 5.023 4.539 Middle 200000 1000 N
USD FORTUNE STAR BVI LTD
FOSUNI 5.95 01/29/23
5.95 1/29/2023 99.675 100.235 6.057 5.867 Middle 200000 1000 Y
USD FORTUNE STAR BVI LTD
FOSUNI 6 3/4 07/02/23
6.75 7/2/2023 101.843 102.338 6.182 6.033 Middle 200000 1000 Y
USD FORTUNE STAR BVI LTD
FOSUNI 6 7/8 01/31/21
6.875 1/31/2021 101.937 102.459 5.288 4.871 Middle 200000 1000 N
USD AGILE GROUP HOLDINGS LTD
AGILE 8 3/8 PERP
8.375 Perp. 101.874 102.393 11.034 10.983 High 200000 1000 Y
USD AGILE GROUP HOLDINGS LTD
AGILE 9 1/2 11/23/20
9.5 11/23/2020 104.765 105.21 4.986 4.581 High 200000 1000 N
USD GLOBAL PRIME CAPITAL
BSDEIJ 7 1/4 04/26/21
7.25 4/26/2021 103.221 103.879 5.028 4.586 High 200000 1000 Y
USD CHINA AOYUAN GROUP LTD
CAPG 6.35 01/11/20
6.35 1/11/2020 100.247 100.611 5.191 3.647 High 200000 1000 N
USD CHINA AOYUAN GROUP LTD
CAPG 7 1/2 05/10/21
7.5 5/10/2021 102.363 102.807 5.892 5.597 High 200000 1000 Y
USD CHINA AOYUAN GROUP LTD
CAPG 7.95 02/19/23
7.95 2/19/2023 103.749 104.285 6.674 6.497 High 200000 1000 Y
USD CHINA AOYUAN GROUP LTD
CAPG 8 1/2 01/23/22
8.5 1/23/2022 104.955 105.433 6.118 5.897 High 200000 1000 Y
USD CENTRAL CHINA REAL ESTAT
CENCHI 8 3/4 01/23/21
8.75 1/23/2021 101.965 102.403 7.085 6.724 High 200000 1000 Y
USD CFLD CAYMAN INVESTMENT
CHFOTN 6 1/2 12/21/20
6.5 12/21/2020 100.168 100.573 6.339 5.979 Middle 200000 1000 N
USD CFLD CAYMAN INVESTMENT
CHFOTN 8.6 04/08/24
8.6 4/8/2024 99.637 100.16 8.698 8.555 Middle 200000 1000 N
USD FRANSHION DEVELOPMENT
CHJMAO 6 3/4 04/15/21
6.75 4/15/2021 105.466 105.654 2.983 2.858 Middle 200000 1000 N
USD COUNTRY GARDEN HLDGS
COGARD 5 1/8 01/17/25
5.125 1/17/2025 98.466 98.977 5.463 5.349 High 200000 1000 Y
USD COUNTRY GARDEN HLDG CO
COGARD 7 1/2 03/09/20
7.5 3/9/2020 101.368 101.743 3.947 3.005 High 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 7 1/4 04/04/21
7.25 4/4/2021 100.247 100.75 7.066 6.701 High 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 7 1/8 01/27/22
7.125 1/27/2022 105.944 106.429 4.357 4.14 High 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 8 01/27/24
8 1/27/2024 108.753 109.248 5.668 5.543 High 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 10 7/8 08/24/20
10.875 8/24/2020 95.655 96.547 16.485 15.293 High 200000 1000 N
USD CHINA SOUTH CITY HOLDING
CSCHCN 5 3/4 03/09/20
5.75 3/9/2020 95.469 96.319 17.941 15.56 High 200000 1000 N
USD CHINA SOUTH CITY HOLDING
CSCHCN 6 3/4 09/13/21
6.75 9/13/2021 83.486 84.437 17.273 16.595 High 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 7 1/4 11/20/22
7.25 11/20/2022 76.954 77.873 17.153 16.691 High 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 10 04/11/23
10 4/11/2023 91.473 92.095 13.126 12.886 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 10 1/2 04/11/24
10.5 4/11/2024 91.509 92.152 13.06 12.856 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 6 1/4 06/28/21
6.25 6/28/2021 91.869 92.319 11.654 11.338 High 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 7 03/23/20
7 3/23/2020 99.322 99.831 8.583 7.368 High 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 7 1/2 06/28/23
7.5 6/28/2023 84.024 84.582 13.077 12.86 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 8 1/4 03/23/22
8.25 3/23/2022 91.097 91.691 12.605 12.297 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 8 3/4 06/28/25
8.75 6/28/2025 83.249 83.854 12.994 12.822 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 9 1/2 03/29/24
9.5 3/29/2024 88.024 88.667 13.135 12.924 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 9 1/2 04/11/22
9.5 4/11/2022 92.743 93.25 13.011 12.754 High 200000 1000 N
USD FANTASIA HOLDINGS GROUP
FTHDGR 10 3/4 01/22/20
10.75 1/22/2020 100 100.507 10.484 8.568 Middle 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 11 3/4 04/17/22
11.75 4/17/2022 94.993 95.662 14.199 13.862 High 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 7 3/8 10/04/21
7.375 10/4/2021 89.809 90.4 13.446 13.07 High 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 8 3/8 03/08/21
8.375 3/8/2021 93.946 94.568 13.263 12.74 High 200000 1000 N
USD NEW METRO GLOBAL LTD
FTLNHD 6 1/2 04/23/21
6.5 4/23/2021 95.047 95.581 10.102 9.701 Middle 200000 1000 Y
USD NEW METRO GLOBAL LTD
FTLNHD 7 1/2 03/20/22
7.5 3/20/2022 92.449 93.19 11.132 10.759 Middle 200000 1000 Y
USD FUTURE LAND DEVELOPMENT
FUTLAN 5 02/16/20
5 2/16/2020 98.82 99.503 8.598 6.481 High 200000 1000 N
USD GLP PTE LTD
GLPSP 3 7/8 06/04/25
3.875 6/4/2025 100.83 101.244 3.71 3.628 High 200000 1000 N
USD EASY TACTIC LTD
GZRFPR 7 04/25/21
7 4/25/2021 99.244 99.745 7.533 7.178 Middle 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 11 1/4 04/09/22
11.25 4/9/2022 99.192 99.723 11.631 11.378 High 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 8 1/2 06/30/22
8.5 6/30/2022 92.281 92.909 11.911 11.619 High 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 9 3/8 06/30/24
9.375 6/30/2024 86.801 87.463 13.222 13.012 High 200000 1000 Y
USD LODHA DEVELOPERS INTL
LODHA 12 03/13/20
12 3/13/2020 81.875 81.875 68.296 68.296 High 200000 1000 Y
USD LOGAN PROPERTY HOLDINGS
LOGPH 5 1/4 02/23/23
5.25 2/23/2023 97.13 97.68 6.213 6.026 High 200000 1000 Y
USD LOGAN PROPERTY HOLDINGS
LOGPH 6 7/8 04/24/21
6.875 4/24/2021 102.263 102.73 5.304 4.986 High 200000 1000 Y
USD LOGAN PROPERTY HOLDINGS
LOGPH 7 1/2 08/27/21
7.5 8/27/2021 103.463 104.015 5.511 5.203 High 200000 1000 Y
USD GEMSTONES INTERNATIONAL
LVGEM 8 1/2 08/15/20
8.5 8/15/2020 96.854 97.748 12.582 11.393 High 200000 1000 N
USD MODERN LAND CHINA CO LTD
MOLAND 12.85 10/25/21
12.85 10/25/2021 93.624 94.452 16.687 16.169 High 200000 1000 N
USD MODERN LAND CHINA CO LTD
MOLAND 6 7/8 10/20/19
6.875 10/20/2019 99.286 100.042 90.151 1.774 High 200000 1000 N
USD MODERN LAND CHINA CO LTD
MOLAND 7.95 03/05/21
7.95 3/5/2021 90.024 90.79 16.269 15.584 High 200000 1000 N
USD OXLEY MTN PTE LTD
OHLSP 6 3/8 04/21/21
6.375 4/21/2021 95.335 95.936 9.769 9.319 High 200000 1000 N
USD POWERLONG REAL ESTATE
PWRLNG 5.95 07/19/20
5.95 7/19/2020 99.804 100.289 6.204 5.54 High 200000 1000 N
USD POWERLONG REAL ESTATE
PWRLNG 6.95 04/17/21
6.95 4/17/2021 100.101 100.563 6.878 6.55 High 200000 1000 N
USD POWERLONG REAL ESTATE
PWRLNG 6.95 07/23/23
6.95 7/23/2023 93.627 94.278 8.975 8.76 High 200000 1000 Y
USD RKPF OVERSEAS 2019 B
ROADKG 7 3/4 04/18/21
7.75 4/18/2021 104.012 104.489 4.947 4.623 High 200000 1000 N
USD RKPF OVERSEAS 2019 A LTD
ROADKG 7 7/8 02/01/23
7.875 2/1/2023 105.796 106.357 5.905 5.723 High 200000 1000 Y
USD RKI OVERSEAS FIN 2017 A
ROADKG 7 PERP
7 Perp. 83.802 84.809 8.351 8.252 High 200000 1000 Y
USD RKP OVERSEAS FI 2016 A
ROADKG 7.95 PERP
7.95 Perp. 92.804 93.612 8.565 8.491 High 200000 1000 Y
USD RONSHINE CHINA
RONXIN 11 1/4 08/22/21
11.25 8/22/2021 105.551 106.083 7.946 7.643 High 200000 1000 N
USD RONSHINE CHINA
RONXIN 6.95 12/08/19
6.95 12/8/2019 100.007 100.272 6.732 4.895 High 200000 1000 Y
USD RONSHINE CHINA
RONXIN 8 1/4 02/01/21
8.25 2/1/2021 100.697 101.127 7.656 7.303 High 200000 1000 N
USD SHIMAO PROPERTY HLDGS
SHIMAO 5.6 07/15/26
5.6 7/15/2026 103.108 103.556 5.049 4.971 High 200000 1000 Y
USD SHUI ON DEVELOPMENT HLDG
SHUION 5.7 02/06/21
5.7 2/6/2021 100.576 101.069 5.23 4.837 High 200000 1000 N
USD SHUI ON DEVELOPMENT HLDG
SHUION 6.4 PERP
6.4 Perp. 99.519 100.218 8.684 8.627 High 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 6 7/8 08/08/20
6.875 8/8/2020 100.552 101.021 6.149 5.552 High 200000 1000 N
USD SUNAC CHINA HOLDINGS LTD
SUNAC 7.95 08/08/22
7.95 8/8/2022 99.736 100.258 8.049 7.839 High 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 8 3/4 12/05/19
8.75 12/5/2019 100.491 100.836 4.887 2.384 High 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 8.35 04/19/23
8.35 4/19/2023 100.231 100.667 8.272 8.127 High 200000 1000 Y
USD SUNSHINE 100 CHINA HLDGS
SUNCHN 8 1/2 09/27/20
8.5 9/27/2020 87.005 88.056 24.729 23.279 High 200000 1000 Y
USD SCENERY JOURNEY LTD
TIANHL 11 11/06/20
11 11/6/2020 101.091 101.555 9.871 9.402 High 200000 1000 N
USD SCENERY JOURNEY LTD
TIANHL 13 11/06/22
13 11/6/2022 100.397 100.946 12.831 12.609 High 200000 1000 Y
USD SCENERY JOURNEY LTD
TIANHL 13 3/4 11/06/23
13.75 11/6/2023 100.301 100.845 13.644 13.466 High 200000 1000 Y
USD VLL INTERNATIONAL INC
VLLPM 7 3/8 06/18/22
7.375 6/18/2022 109.19 109.824 3.723 3.486 High 200000 1000 N
USD XINYUAN REAL ESTATE
XIN 7 3/4 02/28/21
7.75 2/28/2021 83.961 84.97 21.952 20.95 High 200000 1000 N
USD XINYUAN REAL ESTATE
XIN 8 7/8 11/22/20
8.875 11/22/2020 87.023 87.999 22.867 21.709 High 200000 1000 N
USD XINYUAN REAL ESTATE
XIN 9 7/8 03/19/20
9.875 3/19/2020 93.608 94.619 26.505 23.713 High 200000 1000 N
USD CHINA SINGYES SOLAR TECH
CSSXF 7.95 02/15/19
7.95 2/15/2019 81.296 84.581 9.779 9.399 High 200000 1000 N
USD PANDA GREEN ENERGY GROUP
GDPOLY 8 1/4 01/25/20
8.25 1/25/2020 93.526 94.52 33.575 29.441 High 200000 1000 N
USD BAOXIN AUTO FINANCE I LT
CHGRAU 7.9 02/09/20
7.9 2/9/2020 98.254 98.999 13.552 11.068 High 200000 1000 N
USD GUANGHUI INVESTMENT GR
GUANGH 7 7/8 03/30/20
7.875 3/30/2020 93.061 94.478 24.831 21.161 High 200000 1000 N
USD REPUBLIC OF INDONESIA
INDON 5 1/8 01/15/45
5.125 1/15/2045 119.502 120.089 3.903 3.871 High 200000 1000 N
USD REPUBLIC OF SRI LANKA
SRILAN 6 1/4 10/04/20
6.25 10/4/2020 101.408 101.881 4.736 4.235 High 100000 1000 N
USD REPUBLIC OF SRI LANKA
SRILAN 6 1/8 06/03/25
6.125 6/3/2025 97.218 97.865 6.725 6.583 High 200000 1000 N
USD REPUBLIC OF VENEZUELA
VENZ 11 3/4 10/21/26 (Offer Suspended)
11.75 10/21/2026 9.978 11.036 118.14 107.537 - 50000 100 N
USD REPUBLIC OF VENEZUELA
VENZ 9 05/07/23 (Offer Suspended)
9 5/7/2023 9.541 11.007 126.874 115.542 - 50000 100 N
USD HUTCHISON WHAM INT 03/33
CKHH 7.45 11/24/33
7.45 11/24/2033 148.319 149.601 3.173 3.085 Middle 100000 1000 N
USD WISEYEAR HOLDINGS LTD
KERPRO 5 7/8 04/06/21
5.875 4/6/2021 103.921 104.079 3.123 3.015 Middle 200000 1000 N
USD SOFTBANK GROUP CORP
SOFTBK 4 3/4 09/19/24
4.75 9/19/2024 101.397 102.134 4.43 4.264 Middle 200000 1000 Y
USD SOFTBANK GROUP CORP
SOFTBK 5 3/8 07/30/22
5.375 7/30/2022 103.764 104.499 3.933 3.659 High 200000 1000 Y
USD SOFTBANK GROUP CORP
SOFTBK 6 7/8 PERP
6.875 Perp. 95.025 95.813 6.95 6.891 High 200000 1000 Y
USD PCCW CAPITAL NO 4 LTD
PCCW 5 3/4 04/17/22
5.75 4/17/2022 106.54 106.804 3.015 2.909 Middle 200000 1000 N
SGD CHINA AOYUAN GROUP LTD
CAPG 7.15 09/07/21
7.15 9/7/2021 101.756 102.29 6.148 5.849 High 250000 1000 Y
SGD LOGAN PROPERTY HOLDINGS
LOGPH 6 1/8 04/16/21
6.125 4/16/2021 101.395 101.789 5.146 4.872 High 250000 1000 Y
SGD OLAM INTERNATIONAL LTD
OLAMSP 6 10/25/22
6 10/25/2022 105.569 105.814 4.025 3.942 High 250000 250000 N
GBP GOLDMAN SACHS GROUP INC
GS 6 7/8 01/18/38
6.875 1/18/2038 151.068 152.583 3.169 3.085 High 50000 1000 N
GBP BHP BILLITON FINANCE LTD
BHP 6 1/2 10/22/77
6.5 10/22/2077 112.835 113.486 5.014 4.982 High 100000 1000 Y
GBP ELECTRICITE DE FRANCE SA
EDF 6 PERP
6 Perp. 108.306 109.162 4.72 4.681 High 100000 100000 Y
AUD VIRGIN AUSTRALIA HOLDING
VAHAU 8 1/4 05/30/23
8.25 5/30/2023 105.658 106.485 6.468 6.218 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 AFRICAN BANK LTD
AFRIBK 6 02/08/20
6 2/8/2020 99.96 100.881 6.062 3.08 High 160000 100 N
USD BARCLAYS BANK PLC
BACR 5.14 10/14/20
5.14 10/14/2020 102.116 102.506 2.959 2.564 Middle 100000 1000 N
USD BANGKOK BANK PCL/HK
BBLTB 9.025 03/15/29
9.025 3/15/2029 143.553 144.213 3.542 3.476 High 100000 1000 N
USD BANK OF EAST ASIA LTD
BNKEA 6 1/8 07/16/20
6.125 7/16/2020 102.335 102.484 2.935 2.737 Middle 100000 1000 N
USD BANK OF EAST ASIA LTD
BNKEA 8 1/2 PERP
8.5 Perp. 100.266 100.666 3.055 -4.613 High 100000 1000 Y
USD CHINA CITIC BANK INTL
CINDBK 6 7/8 06/24/20
6.875 6/24/2020 102.622 102.788 2.977 2.737 Middle 100000 1000 N
USD CREDIT SUISSE NEW YORK
CS 5.4 01/14/20
5.4 1/14/2020 100.65 100.65 2.656 2.656 Middle 50000 1000 N
USD DAH SING BANK LTD
DAHSIN 6 5/8 02/11/20
6.625 2/11/2020 101.125 101.181 3.002 2.828 Middle 100000 1000 N
USD ICBC ASIA LTD
ICBCAS 5 1/8 11/30/20
5.125 11/30/2020 102.569 102.745 2.775 2.618 Low 100000 1000 N
USD ING GROEP NV
INTNED 6 PERP
6 Perp. 101.004 101.501 5.925 5.896 High 200000 1000 Y
USD LLOYDS BANK PLC
LLOYDS 12 PERP
12 Perp. 120.162 120.961 10.917 10.847 High 100000 1000 Y
USD LLOYDS BANK PLC
LLOYDS 6 1/2 09/14/20
6.5 9/14/2020 103.406 103.594 2.676 2.471 Middle 100000 1000 N
USD ST SAVINGS BK (SSB #1)
OSCHAD 9 3/8 03/10/23
9.375 3/10/2023 104.022 104.992 7.995 7.673 High 200000 1000 N
USD STANDARD CHARTERED BK HK
STANLN 5 7/8 06/24/20
5.875 6/24/2020 102.036 102.182 2.85 2.638 Middle 100000 1000 N
USD YAPI VE KREDI BANKASI AS
YKBNK 5 1/2 12/06/22
5.5 12/6/2022 93.83 95.237 7.75 7.221 Middle 200000 1000 N
USD CREDIT AGRICOLE SA
ACAFP Float PERP
3.35663 Perp. 87.309 88.636 3.706 3.651 High 100000 1000 Y
USD SOCIETE GENERALE
SOCGEN 4 1/4 08/19/26
4.25 8/19/2026 104.023 104.68 3.581 3.475 High 200000 1000 N
USD SOCIETE GENERALE
SOCGEN 5 01/17/24
5 1/17/2024 107.224 107.767 3.169 3.037 High 200000 1000 N
USD SOCIETE GENERALE
SOCGEN 7 7/8 PERP
7.875 Perp. 108.231 108.932 6.308 6.265 High 200000 1000 Y
USD STANDARD CHARTERED PLC
STANLN 3.95 01/11/23
3.95 1/11/2023 102.525 102.894 3.122 3.003 High 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 4.3 02/19/27
4.3 2/19/2027 103.357 104.075 3.771 3.661 High 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 5.2 01/26/24
5.2 1/26/2024 107.442 107.977 3.317 3.188 Middle 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 5.7 01/25/22
5.7 1/25/2022 105.771 106.113 3.049 2.898 Middle 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 7.014 PERP
7.014 Perp. 115.124 116.006 4.765 4.718 High 100000 100000 Y
SGD ICICI BANK LTD/DUBAI
ICICI 3.65 01/14/20
3.65 1/14/2020 100.236 100.49 2.66 1.621 High 250000 250000 N
SGD UNITED OVERSEAS BANK LTD
UOBSP 4 3/4 PERP
4.75 Perp. 100.14 100.247 4.427 4.422 High 250000 250000 Y
GBP STANDARD CHARTERED PLC
STANLN 5 1/8 06/06/34
5.125 6/6/2034 117.935 119.051 3.533 3.444 High 100000 1000 N
EUR BANK OF AMERICA CORP
BAC Float 05/06/19
1.153 5/6/2019 100.01 100.26 -0.377 -0.377 Low 50000 1000 Y
EUR BNP PARIBAS
BNP 4 7/8 PERP (Offer Suspended)
4.875 Perp. 99.919 100.389 32.869 -130.27 High 50000 1000 Y
AUD SOCIETE GENERALE
SOCGEN 5 07/20/28
8 7/20/2028 106.821 107.07 3.569 3.536 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 100.305 100.572 3.008 2.908 Middle 200000 1000 N
USD BOC AVIATION LTD
BOCAVI 3 03/30/20
3 3/30/2020 100.15 100.233 2.661 2.476 Middle 200000 1000 N
USD TEMASEK FINANCIAL I LTD
TEMASE 4.3 10/25/19
4.3 10/25/2019 100.049 100.052 2.052 1.92 Low 250000 1000 N
USD BAIDU INC
BIDU 3 1/2 11/28/22
3.5 11/28/2022 102.423 102.665 2.683 2.603 Low 200000 1000 N
USD COUNTRY GARDEN HLDGS
COGARD 4 3/4 07/25/22
4.75 7/25/2022 100.227 100.738 4.659 4.462 Middle 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 4 3/4 09/28/23
4.75 9/28/2023 98.947 99.451 5.047 4.904 High 200000 1000 Y
USD ESTATE SKY LTD
CSIPTY 4 7/8 08/08/21
4.875 8/8/2021 97.416 97.961 6.406 6.078 High 200000 1000 N
USD HONGKONG LAND FINANCE
HKLSP 4 1/2 06/01/22
4.5 6/1/2022 104.84 105.098 2.578 2.479 Low 200000 1000 N
USD NAN FUNG TREASURY LTD
NANFUN 4 1/2 09/20/22
4.5 9/20/2022 104.063 104.343 3.037 2.939 Middle 200000 1000 N
USD PCPD CAPITAL
PCPDC 4 3/4 03/09/22
4.75 3/9/2022 100.434 101.003 4.555 4.303 High 200000 1000 N
USD SHUI ON DEVELOPMENT HLDG
SHUION 4 3/8 10/05/19
4.375 10/5/2019 99.715 100.141 - - High 200000 1000 N
USD SAN MIGUEL CORP
SMCPM 4 7/8 04/26/23
4.875 4/26/2023 101.052 101.588 4.548 4.384 High 200000 1000 Y
USD UKRAINE GOVERNMENT
UKRAIN 0 05/31/40
- 5/31/2040 90.759 91.736 - - High 50000 1000 N
USD HUTCH WHAMPOA INT 12 II
CKHH 3 1/4 11/08/22
3.25 11/8/2022 102.088 102.323 2.536 2.457 Middle 200000 1000 N
USD CHINA OIL AND GAS GROUP
CHIOIL 4 5/8 04/20/22
4.625 4/20/2022 99.978 100.49 4.634 4.416 High 200000 1000 Y
USD PCCW-HKT CAPITAL NO5 LTD
PCCW 3 3/4 03/08/23
3.75 3/8/2023 102.946 103.236 2.832 2.744 Middle 200000 1000 N
USD HKT CAPITAL NO 2 LTD
PCCW 3 5/8 04/02/25
3.625 4/2/2025 103.077 103.441 3.009 2.938 Middle 200000 1000 N
TRY
TRY EUROPEAN INVESTMENT BANK
EIB 0 09/05/22 (Offer Suspended)
- 9/5/2022 65.766 66.597 15.632 15.13 Low 50000 1000 N
SGD
SGD WHEELOCK FINANCE LTD
WHEELK 4 1/2 09/02/21
4.5 9/2/2021 103.342 103.619 2.664 2.515 Middle 250000 250000 N
SGD GLL IHT PTE LTD
GUOLSP 4.1 05/13/20
4.1 5/13/2020 100.675 100.928 2.894 2.448 High 250000 250000 N
SGD WING TAI HOLDINGS
WINGTA 4 1/2 09/26/22
4.5 9/26/2022 104.118 104.509 3.027 2.891 High 250000 250000 N
GBP
GBP BHP BILLITON FINANCE LTD
BHP 3 1/4 09/25/24
3.25 9/25/2024 109.71 110.165 1.213 1.123 Middle 100000 1000 N
GBP AMERICAN INTL GROUP
AIG Float 03/15/37
2.48963 3/15/2037 82.5 83.986 3.876 3.746 High 50000 50000 Y
GBP HEATHROW FINANCE PLC
HTHROW 4 3/4 03/01/24
4.75 3/1/2024 106.362 107.162 3.179 2.99 High 100000 1000 Y
GBP HEATHROW FINANCE PLC
HTHROW 5 3/4 03/03/25
5.75 3/3/2025 109.918 110.834 3.698 3.52 High 100000 1000 N
GBP VODAFONE GROUP PLC
VOD 3 08/12/56
3 8/12/2056 93.953 95.652 3.285 3.202 High 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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