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Last Update Date:1 August 2016

Risk Disclosure

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 AGILE GROUP HOLDINGS LTD
AGILE 9 7/8 03/20/17
9.875 3/20/2017 - - - - High 200000 1000 N
USD CHINA AOYUAN PROPERTY
CAPG 10 7/8 05/26/18
10.875 5/26/2018 104.911 105.359 4.814 4.288 High 200000 1000 N
USD CENTRAL CHN REAL ESTATE
CENCHI 6 1/2 06/04/18
6.5 6/4/2018 101.194 101.543 5.056 4.642 High 200000 1000 Y
USD CENTRAL CHN REAL ESTATE
CENCHI 8 01/28/20
8 1/28/2020 102.501 102.925 6.898 6.714 High 200000 1000 Y
USD CENTRAL CHINA REAL ESTAT
CENCHI 8 3/4 01/23/21
8.75 1/23/2021 106.421 106.99 6.661 6.484 Middle 200000 1000 Y
USD CHINA PROPERTIES GROUP
CHINPR 13 1/2 10/16/18
13.5 10/16/2018 102.62 103.619 11.118 10.251 High 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 7 7/8 05/27/19
7.875 5/27/2019 104.009 104.25 5.545 5.409 Middle 200000 1000 Y
USD COUNTRY GARDEN HLDG CO
COGARD 7 1/2 03/09/20
7.5 3/9/2020 105.307 105.772 5.304 5.118 High 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 7 1/4 04/04/21
7.25 4/4/2021 103.995 104.43 6.023 5.893 Middle 200000 1000 Y
USD COUNTRY GARDEN HLDG CO
COGARD 7 1/2 01/10/23
7.5 1/10/2023 104.819 105.241 6.438 6.348 High 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 8 1/4 01/29/19
8.25 1/29/2019 - - - - Middle 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 6 3/4 09/13/21
6.75 9/13/2021 98.55 99.221 7.158 6.967 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 8 01/15/19
8 1/15/2019 107.473 108.031 2.792 2.424 High 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 12 02/17/20
12 2/17/2020 111.875 111.875 6.865 6.865 High 200000 1000 Y
USD FRANSHION DEVELOPMENT
CHJMAO 6 3/4 04/15/21
6.75 4/15/2021 111.655 112.108 3.389 3.267 Middle 200000 1000 N
USD ESTATE SKY LTD
CSIPTY 4 7/8 08/08/21
4.875 8/8/2021 99.081 99.694 5.129 4.959 High 200000 1000 N
USD FANTASIA HOLDINGS GROUP
FTHDGR 13 3/4 09/27/17 (Offer Suspended)
13.75 9/27/2017 101.788 102.219 3.325 1.003 High 200000 1000 N
USD FANTASIA HOLDINGS GROUP
FTHDGR 10 5/8 01/23/19 (Offer Suspended)
10.625 1/23/2019 - - - - High 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 10 3/4 01/22/20 (Offer Suspended)
10.75 1/22/2020 104.795 105.45 8.574 8.286 High 200000 1000 Y
USD TRILLION CHANCE LTD
GZRFPR 8 1/2 01/10/19
8.5 1/10/2019 - - - - Middle 200000 1000 Y
USD KWG PROPERTY HOLDING LTD
KWGPRO 13 1/4 03/22/17
13.25 3/22/2017 - - - - Middle 200000 1000 N
USD LONGFOR PROPERTIES
LNGFOR 6 7/8 10/18/19
6.875 10/18/2019 - - - - Middle 200000 1000 Y
USD LONGFOR PROPERTIES
LNGFOR 6 3/4 01/29/23
6.75 1/29/2023 105.089 105.435 5.662 5.591 Middle 200000 1000 Y
USD MODERN LAND CHINA CO LTD
MOLAND 13 7/8 11/04/18
13.875 11/4/2018 - - - - High 200000 1000 Y
USD MODERN LAND CHINA CO
MOLAND 12 3/4 07/31/19
12.75 7/31/2019 - - - - High 200000 1000 Y
USD MODERN LAND CHINA CO
MOLAND 12 3/4 07/31/19
12.75 7/31/2019 - - - - High 200000 1000 Y
USD POWERLONG REAL ESTATE HL
PWRLNG 7 5/8 11/26/18
7.625 11/26/2018 103.075 103.567 5.209 4.834 High 200000 1000 N
USD SHIMAO PROPERTY HLDGS
SHIMAO 6 5/8 01/14/20
6.625 1/14/2020 - - - - Middle 200000 1000 Y
USD SHIMAO PROPERTY HLDGS
SHIMAO 8 1/8 01/22/21
8.125 1/22/2021 106.066 106.529 6.169 6.025 Middle 200000 1000 Y
USD SHIMAO PROPERTY HLDGS
SHIMAO 8 3/8 02/10/22
8.375 2/10/2022 110.357 110.802 5.751 5.646 Middle 200000 1000 Y
USD SHUI ON DEVELOPMENT HOLD
SHUION 8.7 11/24/17
8.7 11/24/2017 - - - - High 200000 1000 N
USD SHUI ON DEVELOPMENT HOLD
SHUION 8.7 05/19/18
8.7 5/19/2018 103.396 103.9 4.421 3.809 High 150000 1000 N
USD SHUI ON DEVELOPMENT HOLD
SHUION 9 5/8 06/10/19
9.625 6/10/2019 104.938 105.249 6.772 6.599 High 200000 1000 Y
USD SHUI ON DEVELOPMENT HLDG
SHUION 4 3/8 10/05/19
4.375 10/5/2019 99.689 100.206 4.522 4.273 High 200000 1000 N
USD SHUI ON DEVELOPMENT HOLD
SHUION 9 3/4 05/19/20
9.75 5/19/2020 - - - - High 150000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 9 3/8 04/05/18
9.375 4/5/2018 - - - - High 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 8 3/4 12/05/19
8.75 12/5/2019 100.498 101.259 8.504 8.146 Middle 200000 1000 Y
USD VLL INTERNATIONAL INC
VLLPM 7 3/8 06/18/22
7.375 6/18/2022 110.776 111.485 4.875 4.721 High 200000 1000 N
USD XINYUAN REAL ESTATE
XIN 13 1/4 05/03/18
13.25 5/3/2018 - - - - High 200000 1000 Y
USD XINYUAN REAL ESTATE
XIN 8 1/8 08/30/19
8.125 8/30/2019 99.711 100.273 8.247 7.951 High 200000 1000 N
USD XINYUAN REAL ESTATE
XIN 13 06/06/19
13 6/6/2019 106.402 107.064 - - High 200000 1000 Y
USD YANLORD LAND GROUP LTD
YLLGSP 10 5/8 03/29/18
10.625 3/29/2018 - - - - Middle 200000 1000 Y
USD CFG INVESTMENT SAC
CFGSP 9 3/4 07/30/19 (Offer Suspended)
9.75 7/30/2019 94.515 95.843 12.851 12.061 High 200000 1000 Y
USD DOUBLE CHARM LTD
EVBSF 2 7/8 08/27/18
2.875 8/27/2018 100.094 100.23 2.786 2.659 Low 200000 1000 N
USD SPARKLE ASSETS LTD
FOSUNI 6 7/8 01/30/20
6.875 1/30/2020 - - - - High 200000 1000 Y
USD STUDIO CITY FINANCE LTD
STCITY 8 1/2 12/01/20
8.5 12/1/2020 103.007 103.479 7.463 7.305 Middle 250000 1000 Y
USD MELCO RESORTS FINANCE
MPEL 5 02/15/21
5 2/15/2021 - - - - Middle 200000 1000 Y
USD ZOOMLION HK SPV CO LTD
ZOOMLI 6 7/8 04/05/17
6.875 4/5/2017 - - - - High 200000 1000 N
USD ZOOMLION HK SPV CO LTD
ZOOMLI 6 1/8 12/20/22
6.125 12/20/2022 100.833 101.471 5.941 5.802 High 200000 1000 N
Local Bank Bonds
Currency Issuer Coupon
(%)
Maturity
(mm/dd/yyyy)
Bid Offer Yield
(%)
Offer Yield
(%)
Risk Min. Piece Increment Redeem
USD BANK OF EAST ASIA LTD
BNKEA 6 1/8 07/16/20
6.125 7/16/2020 108.787 109.156 3.017 2.893 Middle 100000 1000 N
USD BANK OF EAST ASIA LTD
BNKEA 6 3/8 05/04/22
6.375 5/4/2022 - - - - Middle 200000 1000 Y
USD WING LUNG BANK LTD
CHINAM 3 1/2 11/07/22
3.5 11/7/2022 100.041 100.098 4.552 4.54 Middle 200000 1000 Y
USD STANDARD CHARTERED BK HK
STANLN 5 7/8 06/24/20
5.875 6/24/2020 108.111 108.55 2.951 2.801 Low 100000 1000 N
USD STANDARD CHARTERED PLC
STANLN 5.7 01/25/22
5.7 1/25/2022 109.222 109.668 3.47 3.368 Low 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 4 07/12/22
4 7/12/2022 100.034 100.034 - - Low 200000 1000 Y
USD STANDARD CHARTERED PLC
STANLN 3.95 01/11/23
3.95 1/11/2023 101.747 102.027 3.595 3.539 Low 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 5.2 01/26/24
5.2 1/26/2024 107.166 107.751 3.94 3.842 Low 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 4.3 02/19/27
4.3 2/19/2027 101.658 102.253 4.089 4.014 Middle 200000 1000 N
USD DAH SING BANK LTD
DAHSIN 6 5/8 02/11/20
6.625 2/11/2020 107.98 108.377 3.33 3.175 Middle 100000 1000 N
USD ICBC ASIA LTD
ICBCAS 5 1/8 11/30/20
5.125 11/30/2020 106.838 107.204 2.964 2.854 Low 100000 1000 N
USD CHINA CITIC BANK INTL
CINDBK 6 7/8 06/24/20
6.875 6/24/2020 109.609 110.215 3.386 3.179 Middle 100000 1000 N
US Dollar & Other Currency Bonds
Currency Issuer Coupon
(%)
Maturity
(mm/dd/yyyy)
Bid Offer Yield
(%)
Offer Yield
(%)
Risk Min. Piece Increment Redeem
USD
USD SAN MIGUEL CORP
SMCPM 4 7/8 04/26/23
4.875 4/26/2023 102.716 103.392 4.335 4.204 Middle 200000 1000 Y
USD ROLTA LLC
RLTAIN 10 3/4 05/16/18
10.75 5/16/2018 19 19 377.067 377.067 High 200000 1000 Y
USD BANGKOK BANK PCL/HK
BBLTB 9.025 03/15/29
9.025 3/15/2029 140.586 141.386 4.505 4.434 Middle 100000 1000 N
USD LLOYDS BANK PLC
LLOYDS 6 1/2 09/14/20
6.5 9/14/2020 111.234 111.729 2.736 2.581 Low 100000 1000 N
USD BARCLAYS BANK PLC
BACR 5.14 10/14/20
5.14 10/14/2020 107.127 107.559 2.808 2.673 Low 100000 1000 N
USD CREDIT SUISSE NEW YORK
CS 5.4 01/14/20
5.4 1/14/2020 107.244 107.514 2.362 2.254 Low 50000 1000 N
USD ROYAL BK OF SCOTLAND NV
RBS 4.65 06/04/18
4.65 6/4/2018 102 102.305 2.281 1.927 Middle 50000 1000 N
USD SOCIETE GENERALE
SOCGEN 5 01/17/24
5 1/17/2024 106.614 107.069 3.837 3.76 Middle 200000 1000 N
USD MACQUARIE BANK LTD
MQGAU 5 02/22/17
5 2/22/2017 - - - - Low 50000 1000 N
USD BAIDU INC
BIDU 3 1/4 08/06/18
3.25 8/6/2018 101.158 101.267 2.108 2.001 Low 200000 1000 N
USD BAIDU INC
BIDU 3 1/4 08/06/18
3.25 8/6/2018 101.158 101.267 2.108 2.001 Low 200000 1000 N
USD BAIDU INC
BIDU 3 1/2 11/28/22
3.5 11/28/2022 102.871 103.144 2.915 2.861 Low 200000 1000 N
USD BOC AVIATION LTD
BOCAVI 2 7/8 10/10/17
2.875 10/10/2017 100.189 100.225 1.96 1.79 Low 200000 1000 N
USD BOC AVIATION LTD
BOCAVI 3 03/30/20
3 3/30/2020 100.813 101.026 2.683 2.6 Low 200000 1000 N
USD CHINA HONGQIAO GROUP LTD
HONGQI 7 5/8 06/26/17
7.625 6/26/2017 99.375 99.375 - - High 200000 1000 N
USD HNA GROUP INTL CO LTD
SANYPH 8 1/8 12/03/18
8.125 12/3/2018 97.19 97.962 10.379 9.747 High 200000 1000 N
USD TINGYI (C.I.) HLDG CORP
TINGYI 3 7/8 06/20/17
3.875 6/20/2017 100.017 100.017 - - Middle 200000 1000 N
USD LI & FUNG LTD
LIFUNG 5 1/2 05/16/17
5.5 5/16/2017 - - - - Middle 100000 1000 N
USD HKT CAPITAL NO 2 LTD
PCCW 3 5/8 04/02/25
3.625 4/2/2025 100.821 101.271 3.502 3.435 Middle 200000 1000 N
USD PCCW-HKT CAPITAL NO5 LTD
PCCW 3 3/4 03/08/23
3.75 3/8/2023 103.493 103.858 3.068 2.999 Middle 200000 1000 N
USD HONGKONG LAND FINANCE
HKLSP 4 1/2 06/01/22
4.5 6/1/2022 108.308 108.703 2.663 2.58 Low 200000 1000 N
USD WISEYEAR HOLDINGS LTD
KERPRO 5 02/15/17
5 2/15/2017 - - - - Middle 200000 1000 N
USD WISEYEAR HOLDINGS LTD
KERPRO 5 7/8 04/06/21
5.875 4/6/2021 108.764 109.111 3.336 3.24 Middle 200000 1000 N
USD NAN FUNG TREASURY LTD
NANFUN 4 1/2 09/20/22
4.5 9/20/2022 106.119 106.593 3.202 3.105 Middle 200000 1000 N
USD NAN FUNG TREASURY I LTD
NANFUN 5 1/4 01/20/17
5.25 1/20/2017 - - - - Middle 200000 1000 N
USD ROSY UNICORN LTD
NWSZF 6 1/2 02/09/17
6.5 2/9/2017 - - - - Middle 200000 1000 N
USD PCCW CAPITAL NO 4 LTD
PCCW 5 3/4 04/17/22
5.75 4/17/2022 110.353 110.788 3.363 3.269 Middle 200000 1000 N
USD HOWES CAPITAL LTD
SLACP 4 3/4 04/10/17
4.75 4/10/2017 - - - - Middle 200000 1000 N
USD TEMASEK FINANCIAL I LTD
TEMASE 4.3 10/25/19
4.3 10/25/2019 105.211 105.348 1.921 1.861 Low 250000 1000 N
USD COMPET TEAM TECH LTD
HONHAI 2 1/8 12/13/17
2.125 12/13/2017 99.97 100.039 2.198 2.018 Low 200000 1000 N
USD ALBARAKA TURK KATILIM BA
ALBRK 6 1/4 06/30/19
6.25 6/30/2019 101 101.744 5.694 5.287 Middle 200000 1000 N
USD BHP BILLITON FIN USA LTD
BHP 6 1/4 10/19/75
6.25 10/19/2075 108.957 109.366 6.186 6.163 Middle 200000 1000 Y
USD BERAU COAL ENERGY TBK PT
BRAUIJ 7 1/4 03/13/17
7.25 3/13/2017 49.371 51.116 14.685 14.183 High 200000 1000 Y
USD GARUDA ID GLOBAL SUKUK
GARUDA 5.95 06/03/20
5.95 6/3/2020 104.481 105.035 4.266 4.064 High 200000 1000 N
USD GAJAH TUNGGAL TBK PT
GJTLIJ 7 3/4 02/06/18
7.75 2/6/2018 92.386 93.369 23.839 21.618 High 200000 1000 Y
USD REPUBLIC OF INDONESIA
INDON 5 1/8 01/15/45
5.125 1/15/2045 108.127 108.638 4.601 4.57 Middle 200000 1000 N
USD INDO ENERGY FINANCE II
INDYIJ 6 3/8 01/24/23
6.375 1/24/2023 93.768 94.536 7.79 7.61 High 200000 1000 Y
USD INDO ENERGY FINANCE BV
INDYIJ 7 05/07/18
7 5/7/2018 - - - - High 200000 1000 Y
USD COMFEED FINANCE BV
JPFAIJ 6 05/02/18
6 5/2/2018 - - - - High 200000 1000 Y
USD MIE HOLDINGS CORP
MIEHOL 6 7/8 02/06/18
6.875 2/6/2018 62.91 62.91 119.368 119.368 High 200000 1000 Y
USD ARCELORMITTAL
MTNA 6 1/8 06/01/18
6.125 6/1/2018 103.065 103.75 2.455 1.661 High 50000 1000 N
USD PUMA INTL FINANCING
PUMAFN 6 3/4 02/01/21
6.75 2/1/2021 102.997 104 5.796 5.484 Middle 200000 1000 Y
USD ROLTA AMERICAS LLC
RLTAIN 8 7/8 07/24/19
8.875 7/24/2019 16 16 134.094 134.094 Middle 200000 1000 Y
USD SOFTBANK GROUP CORP
SOFTBK 5 3/8 07/30/22
5.375 7/30/2022 105.678 106.247 4.111 3.988 Middle 200000 1000 Y
USD REPUBLIC OF SRI LANKA
SRILAN 6 1/4 10/04/20
6.25 10/4/2020 105.928 106.425 4.242 4.08 Middle 100000 1000 N
USD REPUBLIC OF SRI LANKA
SRILAN 6 1/8 06/03/25
6.125 6/3/2025 102.71 103.326 5.691 5.595 Middle 200000 1000 N
USD ABJA INVESTMENT CO
TATAIN 5.95 07/31/24
5.95 7/31/2024 105.509 106.096 5.009 4.912 Middle 200000 1000 N
USD UKRAINE GOVERNMENT
UKRAIN 7 3/4 09/23/20
7.75 9/23/2020 - - - - High 100000 1000 N
USD VEDANTA RESOURCES PLC
VEDLN 6 01/31/19
6 1/31/2019 103.689 104.18 3.467 3.141 High 200000 1000 N
USD REPUBLIC OF VENEZUELA
VENZ 11 3/4 10/21/26
11.75 10/21/2026 49.69 50.315 26.573 26.257 High 50000 100 N
USD REPUBLIC OF VENEZUELA
VENZ 9 05/07/23
9 5/7/2023 44 44.745 29.883 29.396 High 50000 100 N
USD YAPI VE KREDI BANKASI AS
YKBNK 5 1/2 12/06/22
5.5 12/6/2022 98.861 99.673 5.748 5.57 Middle 200000 1000 N
AUD
AUD AUST & NZ BANKING GROUP
ANZ 4 1/4 04/17/18
4.25 4/17/2018 101.54 101.587 2.116 2.052 Low 50000 1000 N
AUD BHP BILLITON FINANCE LTD
BHP 3 3/4 10/18/17
3.75 10/18/2017 100.3516 100.3999 2.217 2.014 Low 50000 10000 N
AUD CITIGROUP INC
C 4 3/4 02/05/18
4.75 2/5/2018 101.231 101.277 2.41 2.324 Low 100000 100000 N
AUD CITIGROUP INC
C 6 1/2 02/13/17
6.5 2/13/2017 - - - - Low 100000 100000 N
AUD MORGAN STANLEY
MS 7 3/8 02/22/18
7.375 2/22/2018 102.788 102.853 2.454 2.347 High 50000 1000 N
AUD NATIONAL AUSTRALIA BANK
NAB 6 02/15/17
6 2/15/2017 - - - - Low 50000 1000 N
AUD WESTPAC BANKING CORP
WSTP 6 02/20/17
6 2/20/2017 - - - - Low 100000 100000 N
AUD TELSTRA CORP LTD
TLSAU 4 11/15/17
4 11/15/2017 100.5134 100.5476 2.294 2.185 Low 50000 10000 N
NZD
NZD ASIAN DEVELOPMENT BANK
ASIA 3 1/4 07/20/17
3.25 7/20/2017 100.003 100.01 2.182 -0.373 Low 50000 1000 N
GBP
GBP AMERICAN INTL GROUP
AIG 8 5/8 05/22/38
8.625 5/22/2038 - - - - Middle 50000 50000 Y
GBP ASTON MARTIN CAPITAL LTD
ASTONM 9 1/4 07/15/18
9.25 7/15/2018 102.15 102.65 - - High 100000 1000 Y
GBP BARCLAYS BANK PLC
BACR 6 3/4 01/16/23
6.75 1/16/2023 102.446 102.539 2.686 2.668 Middle 50000 1000 Y
GBP GENERAL ELECTRIC CO
GE 6 1/2 09/15/67
6.5 9/15/2067 100.75 100.75 1.254 1.254 Middle 50000 1000 Y
GBP TRAVELEX FINANCING PLC
TRVLEX 8 08/01/18
8 8/1/2018 - - - - Middle 100000 1000 Y
GBP STANDARD CHARTERED PLC
STANLN 5 1/8 06/06/34
5.125 6/6/2034 108.983 110 4.361 4.28 Middle 100000 1000 N
EUR
EUR AVIVA PLC
AVLN 6 7/8 05/22/38
6.875 5/22/2038 105.452 105.66 2.898 2.884 High 50000 1000 Y
EUR BANK OF AMERICA CORP
BAC 0 05/06/19
1.131 5/6/2019 101.734 101.928 0.171 0.065 Middle 50000 1000 Y
EUR CITIGROUP INC
C 0 02/10/19
1.071 2/10/2019 100.266 100.513 0.899 0.741 Low 50000 1000 Y
EUR GENERAL ELECTRIC CO
GE 5 1/2 09/15/67
5.5 9/15/2067 - - - - Middle 50000 1000 Y
EUR NATIONWIDE BLDG SOCIETY
NWIDE 4 1/8 03/20/23
4.125 3/20/2023 102.472 102.571 3.178 3.159 Low 100000 1000 Y
EUR ROYAL BK OF SCOTLAND PLC
RBS 4 5/8 09/22/21
4.625 9/22/2021 - - - - Middle 50000 1000 Y
SGD
SGD ABN AMRO BANK NV
ABNANV 4.7 10/25/22
4.7 10/25/2022 100.701 100.811 5.364 5.339 Middle 250000 1000 Y
SGD BANK OF EAST ASIA LTD
BNKEA 4 1/4 09/13/22
4.25 9/13/2022 100.33 100.474 4.77 4.738 Middle 250000 250000 Y
SGD DAH SING BANK LTD
DAHSIN 4 7/8 02/09/22
4.875 2/9/2022 - - - - Middle 250000 250000 Y
SGD DBS BANK LTD
DBSSP 3.1 02/14/23
3.1 2/14/2023 100.744 100.985 3.635 3.587 Low 250000 250000 Y
SGD ICICI BANK LTD/DUBAI
ICICI 3.65 01/14/20
3.65 1/14/2020 103.257 103.63 2.29 2.137 Middle 250000 250000 N
SGD UNITED OVERSEAS BANK LTD
UOBSP 3.15 07/11/22
3.15 7/11/2022 - - - - Low 250000 250000 Y
SGD BANYAN TREE HOLDINGS LTD
BTHSP 5 3/4 07/31/18
5.75 7/31/2018 99.869 100.896 5.883 4.835 High 250000 250000 N
SGD EZRA HOLDINGS LTD
EZRASP 4 7/8 04/24/18
4.875 4/24/2018 - - - - High 250000 250000 N
SGD GLL IHT PTE LTD
GUOLSP 4.1 05/13/20
4.1 5/13/2020 102.327 102.682 3.223 3.092 High 250000 250000 N
SGD GLL IHT PTE LTD
GUOLSP 4.35 09/12/17
4.35 9/12/2017 100.441 100.524 1.044 0.437 High 250000 250000 N
SGD OLAM INTERNATIONAL LTD
OLAMSP 6 10/25/22
6 10/25/2022 105.408 105.842 4.821 4.729 High 250000 250000 N
SGD WHEELOCK FINANCE LTD
WHEELK 4 1/2 09/02/21
4.5 9/2/2021 108.04 108.401 2.433 2.345 Middle 250000 250000 N
SGD WING TAI HOLDINGS
WINGTA 4 1/2 09/26/22
4.5 9/26/2022 105.686 106.299 3.295 3.17 High 250000 250000 N
CNY
CNY BOC AVIATION LTD
BOCAVI 4 1/2 11/20/18
4.5 11/20/2018 100.229 100.668 4.316 3.974 Low 1000000 10000 N
CNY BP CAPITAL MARKETS PLC
BPLN 3.95 10/08/18
3.95 10/8/2018 99.8 100.376 4.117 3.626 Low 1000000 10000 N
CNY CATERPILLAR FINANCIAL SE
CAT 3.55 06/23/18
3.55 6/23/2018 99.535 99.863 4.067 3.7 Low 1000000 500000 N
CNY FUQING INVESTMENT MGMT
PINGRE 4.85 07/21/18
4.85 7/21/2018 100.269 100.647 4.569 4.178 High 1000000 100000 N
CNY VALUE SUCCESS INTL LTD
PINGIN 4.15 01/29/17
4.15 1/29/2017 - - - - High 1000000 10000 N
CNY VALUE SUCCESS INTL LTD
PINGIN 4 3/4 11/04/18
4.75 11/4/2018 100.74 101.157 4.146 3.812 High 1000000 10000 N
CNY VALUE SUCCESS INTL LTD
PINGIN 4.95 01/29/19
4.95 1/29/2019 100.869 101.484 4.351 3.931 High 1000000 10000 N
CNY VOLKSWAGEN INTL FIN NV
VW 3 1/2 01/23/19
3.5 1/23/2019 99.002 99.503 4.193 3.844 Low 1000000 1000000 N
CNY ICBCIL FINANCE CO LTD
ICBCIL 3.9 06/18/18
3.9 6/18/2018 99.75 100.216 4.181 3.652 Low 1000000 10000 N
CNY GEMDALE ASIA INVESTMENT
GEMDAL 6 1/2 03/04/17
6.5 3/4/2017 - - - - Middle 1000000 10000 N
CNY GEMDALE ASIA HLD LTD
GEMDAL 5 5/8 03/21/18
5.625 3/21/2018 - - - - Middle 1000000 10000 N
CNY HAINAN AIRLINE HK
HAIAIR 6 1/4 05/22/17
6.25 5/22/2017 - - - - High 1000000 10000 N
CNY LONGFOR PROPERTIES
LNGFOR 6 3/4 05/28/18
6.75 5/28/2018 101.62 102.05 4.758 4.242 Middle 1000000 10000 N
CNY MODERN LAND CHINA CO LTD
MOLAND 11 01/22/17
11 1/22/2017 - - - - Middle 1000000 100000 N
CNY MONGOLIA INTL BOND
MONGOL 7 1/2 06/30/18
7.5 6/30/2018 100.292 100.868 7.163 6.52 Middle 1000000 10000 N
CNY POWERLONG REAL ESTATE
PWRLNG 10 3/4 09/18/17
10.75 9/18/2017 100.747 100.992 5.627 4.09 Middle 1000000 10000 N
CNY HNA GROUP INTL CO LTD
SANYPH 8 11/13/17
8 11/13/2017 99.588 100.217 9.332 7.21 High 1000000 10000 N
CNY SHUI ON DEVELOPMENT HOLD
SHUION 6 7/8 02/26/17
6.875 2/26/2017 - - - - High 1000000 10000 N
CNY TRAD & DEV BANK MONGOLIA
TDBM 10 01/21/17
10 1/21/2017 - - - - High 1000000 10000 N
HKD
HKD BANK OF CHINA/HONG KONG
BCHINA 2 1/4 03/27/17
2.25 3/27/2017 - - - - Low 500000 500000 N
HKD BANK OF CHINA/HONG KONG
BCHINA 2.27 10/09/17
2.27 10/9/2017 - - - - Low 500000 50000 N
HKD BANK OF CHINA/HONG KONG
BCHINA 2.53 07/11/17
2.53 7/11/2017 - - - - High 1000000 1000000 N
HKD BANK OF EAST ASIA LTD
BNKEA 2.97 06/24/19
2.97 6/24/2019 - - - - Low 1500000 500000 N
HKD BK OF COMMUNICATIONS/HK
BOCOM 3.2 04/09/19
3.2 4/9/2019 - - - - Low 1500000 500000 N
HKD CLP POWER HK FINANCING
CHINLP 3.88 08/05/19
3.88 8/5/2019 - - - - Low 1000000 1000000 N
HKD CLP POWER HK FINANCING
CHINLP 3.93 09/20/21
3.93 9/20/2021 - - - - Low 1000000 1000000 N
HKD CLP POWER HK FINANCING
CHINLP 3.97 03/23/26
3.97 3/23/2026 - - - - Middle 1000000 1000000 N
HKD CLP POWER HK FINANCING
CHINLP 4.38 01/11/17
4.38 1/11/2017 - - - - Middle 1000000 1000000 N
HKD FAR EAST HORIZON LTD
FRESHK 4.65 05/07/21
4.65 5/7/2021 - - - - High 500000 100000 N
HKD HANG SENG BANK LTD
HANSEN 1 3/4 10/16/17
1.75 10/16/2017 - - - - Low 1000000 1000000 N
HKD HANG SENG BANK LTD
HANSEN 2 1/4 05/11/20
2.25 5/11/2020 - - - - Low 1000000 1000000 N
HKD HONG KONG MTG CO
HKMTGC 4.82 11/28/17
4.82 11/28/2017 - - - - Middle 500000 500000 N
HKD HONG KONG MTG CO
HKMTGC 5.01 10/09/17
5.01 10/9/2017 - - - - Low 500000 500000 N
HKD KOWLOON-CANTON RAILWAY
KCRC 3 1/2 04/29/19
3.5 4/29/2019 - - - - Low 1000000 1000000 N
HKD KOWLOON-CANTON RAILWAY
KCRC 3.88 06/15/21
3.88 6/15/2021 - - - - Low 1000000 1000000 N
HKD MTR CORPORATION (C.I.)
MTRC 1.68 03/15/17
1.68 3/15/2017 - - - - Low 1500000 500000 N
HKD MTR CORP CI LTD
MTRC 5.2 07/18/18
5.2 7/18/2018 - - - - Low 500000 500000 N
HKD NWD MTN LTD
NWDEVL 5.9 09/18/23
5.9 9/18/2023 - - - - Low 2000000 500000 N
HKD CHINA DEVELOPMENT BK/HK
SDBC 3 1/4 09/17/18
3.25 9/17/2018 - - - - Low 1000000 1000000 N
HKD CHINA DEVELOPMENT BK/HK
SDBC 3.2 03/30/17
3.2 3/30/2017 - - - - Middle 1000000 1000000 N
HKD SUN HUNG KAI PROP (CAP)
SUNHUN 3.23 01/10/23
3.23 1/10/2023 - - - - Middle 1000000 1000000 N
HKD SUN HUNG KAI PROP (CAP)
SUNHUN 4.05 02/24/21
4.05 2/24/2021 - - - - Low 1000000 1000000 N
HKD SWIRE PACIFIC MTN FIN
SWIRE 3 03/22/23
3 3/22/2023 - - - - Middle 1000000 1000000 N
HKD URBAN RENEWAL AUTHORITY
URBREN 1.65 01/17/20
1.65 1/17/2020 - - - - Low 1000000 1000000 N
HKD WHEELOCK FINANCE LIMITED
WHEELK 3 05/23/19
3 5/23/2019 - - - - High 1500000 500000 N
HKD WHEELOCK FINANCE LIMITED
WHEELK 4.2 09/13/22
4.2 9/13/2022 - - - - High 1000000 1000000 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

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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