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 95.291 96.818 8.496 8.166 High 50000 1000 Y
USD GARUDA ID GLOBAL SUKUK
GARUDA 5.95 06/03/20
5.95 6/3/2020 96.039 97.05 9.099 8.277 High 200000 1000 N
USD GRAND CHINA AIR HONG KON
GRCHAR 6 3/8 03/07/19
6.375 3/7/2019 95.822 96.814 41.289 32.697 High 200000 1000 N
USD HNA GROUP INTL CO LTD
SANYPH 6 08/18/19
6 8/18/2019 94.055 95.074 17.383 15.336 High 200000 1000 N
USD HNA GROUP INTL CO LTD
SANYPH 8 1/8 12/03/18
8.125 12/3/2018 - - - - High 200000 1000 N
USD HNA GROUP INTL CO LTD
SANYPH 8 7/8 11/06/18
8.875 11/6/2018 - - - - High 200000 1000 N
USD STUDIO CITY FINANCE LTD
STCITY 8 1/2 12/01/20
8.5 12/1/2020 100.251 101 8.341 7.9 High 250000 1000 Y
USD ZHONGRONG INT RES CO LTD
SDCOKI 7 1/4 10/26/20
7.25 10/26/2020 56.178 59.177 46.219 42.395 High 200000 1000 N
USD LI & FUNG LTD
LIFUNG 5 1/4 PERP
5.25 Perp. 65.388 66.572 8.027 7.885 High 200000 1000 Y
USD CN ENERGY RSRVE CHMCALS
CERCG 6 1/8 01/15/19 (Offer Suspended)
6.125 1/15/2019 - - - - High 200000 1000 N
USD CREDIT SUISSE GROUP AG
CS 6 1/4 PERP
6.25 Perp. 97.883 98.734 6.291 6.237 High 200000 1000 Y
USD TBLA INTERNATIONAL PTE L
TBLAIJ 7 01/24/23
7 1/24/2023 88.801 89.604 10.498 10.23 High 200000 1000 Y
USD CHINA PROPERTIES GROUP
CHINPR 13 1/2 10/16/18
13.5 10/16/2018 - - - - High 200000 1000 Y
USD INDO ENERGY FINANCE II
INDYIJ 6 3/8 01/24/23
6.375 1/24/2023 94.785 95.522 7.921 7.696 High 200000 1000 Y
USD DAI-ICHI LIFE INSURANCE
DAIL 7 1/4 PERP
7.25 Perp. 106.758 107.421 6.912 6.869 High 50000 1000 Y
USD ZOOMLION HK SPV CO LTD
ZOOMLI 6 1/8 12/20/22
6.125 12/20/2022 93.979 94.829 7.945 7.679 High 200000 1000 N
USD BHP BILLITON FIN USA LTD
BHP 6 1/4 10/19/75
6.25 10/19/2075 103.272 103.735 7.229 7.196 High 200000 1000 Y
USD NOBLE GROUP LTD
NOBLSP 8 3/4 03/09/22 (Offer Suspended)
8.75 3/9/2022 - - - - - 200000 1000 Y
USD ABJA INVESTMENT CO
TATAIN 5.95 07/31/24
5.95 7/31/2024 99.059 99.682 6.153 6.018 High 200000 1000 N
USD VEDANTA RESOURCES PLC
VEDLN 6 01/31/19
6 1/31/2019 99.89 100.287 11.239 -8.413 Middle 200000 1000 N
USD FORTUNE STAR BVI LTD
FOSUNI 5 3/8 12/05/20
5.375 12/5/2020 98.045 98.56 6.499 6.199 Middle 200000 1000 N
USD FORTUNE STAR BVI LTD
FOSUNI 5.95 01/29/23
5.95 1/29/2023 90.642 91.318 8.763 8.549 Middle 200000 1000 Y
USD GLOBAL PRIME CAPITAL
BSDEIJ 7 1/4 04/26/21
7.25 4/26/2021 102.007 102.676 6.276 5.96 High 200000 1000 Y
USD CHINA AOYUAN GROUP LTD
CAPG 6.35 01/11/20
6.35 1/11/2020 99.74 100.155 6.629 6.179 High 200000 1000 N
USD CHINA AOYUAN GROUP LTD
CAPG 7 1/2 05/10/21
7.5 5/10/2021 98.969 99.611 7.992 7.68 High 200000 1000 Y
USD CENTRAL CHN REAL ESTATE
CENCHI 8 01/28/20
8 1/28/2020 100.248 100.482 7.739 7.495 High 200000 1000 Y
USD CENTRAL CHINA REAL ESTAT
CENCHI 8 3/4 01/23/21
8.75 1/23/2021 101 101.52 8.198 7.913 High 200000 1000 Y
USD CFLD CAYMAN INVESTMENT
CHFOTN 6 1/2 12/21/20
6.5 12/21/2020 90.288 91.022 12.351 11.881 Middle 200000 1000 N
USD FRANSHION DEVELOPMENT
CHJMAO 6 3/4 04/15/21
6.75 4/15/2021 104.469 104.758 4.612 4.478 Middle 200000 1000 N
USD COUNTRY GARDEN HLDGS
COGARD 5 1/8 01/17/25
5.125 1/17/2025 86.424 87.175 8.026 7.852 High 200000 1000 Y
USD COUNTRY GARDEN HLDG CO
COGARD 7 1/2 03/09/20
7.5 3/9/2020 101.624 102.103 5.98 5.542 High 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 7 1/4 04/04/21
7.25 4/4/2021 101.43 101.956 6.534 6.276 High 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 7 1/8 01/27/22
7.125 1/27/2022 100.698 101.267 6.863 6.653 High 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 10 7/8 08/24/20
10.875 8/24/2020 90.168 90.94 18.234 17.614 High 200000 1000 N
USD CHINA SOUTH CITY HOLDING
CSCHCN 5 3/4 03/09/20
5.75 3/9/2020 86.293 87.012 19.883 19.061 High 200000 1000 N
USD CHINA SOUTH CITY HOLDING
CSCHCN 6 3/4 09/13/21
6.75 9/13/2021 75.067 75.929 19.218 18.704 High 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 7 1/4 11/20/22
7.25 11/20/2022 71.735 72.501 17.723 17.376 High 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 6 1/4 06/28/21
6.25 6/28/2021 95.887 96.459 8.146 7.876 High 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 7 03/23/20
7 3/23/2020 99.736 100.354 7.227 6.668 High 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 7 1/2 06/28/23
7.5 6/28/2023 88.661 89.293 10.783 10.586 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 8 1/4 03/23/22
8.25 3/23/2022 96.952 97.543 9.377 9.154 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 8 3/4 06/28/25
8.75 6/28/2025 83.652 84.229 12.523 12.374 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 9 1/2 03/29/24
9.5 3/29/2024 87.491 88.112 12.872 12.69 High 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 10 3/4 01/22/20 (Offer Suspended)
10.75 1/22/2020 - - - - Middle 200000 1000 Y
USD NEW METRO GLOBAL LTD
FTLNHD 6 1/2 04/23/21
6.5 4/23/2021 97.921 98.43 7.514 7.262 Middle 200000 1000 Y
USD FUTURE LAND DEVELOPMENT
FUTLAN 5 02/16/20
5 2/16/2020 98.151 98.818 6.827 6.161 High 200000 1000 N
USD EASY TACTIC LTD
GZRFPR 7 04/25/21
7 4/25/2021 97.648 98.179 8.154 7.889 Middle 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 8 1/2 06/30/22
8.5 6/30/2022 78.218 78.995 17.141 16.783 High 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 9 3/8 06/30/24
9.375 6/30/2024 74.069 74.84 16.836 16.568 High 200000 1000 Y
USD LOGAN PROPERTY HOLDINGS
LOGPH 5 1/4 02/23/23
5.25 2/23/2023 87.452 88.117 8.988 8.774 High 200000 1000 Y
USD GEMSTONES INTERNATIONAL
LVGEM 8 1/2 08/15/20
8.5 8/15/2020 93.784 94.583 13.017 12.413 High 200000 1000 N
USD MODERN LAND CHINA CO LTD
MOLAND 6 7/8 10/20/19
6.875 10/20/2019 95.762 97.008 13.014 11.156 High 200000 1000 N
USD MODERN LAND CHINA CO LTD
MOLAND 7.95 03/05/21
7.95 3/5/2021 84.339 85.492 17.055 16.312 High 200000 1000 N
USD POWERLONG REAL ESTATE
PWRLNG 5.95 07/19/20
5.95 7/19/2020 96.523 97.08 8.484 8.07 High 200000 1000 N
USD POWERLONG REAL ESTATE
PWRLNG 6.95 04/17/21
6.95 4/17/2021 95.387 96.134 9.274 8.887 High 200000 1000 N
USD POWERLONG REAL ESTATE HL
PWRLNG 7 5/8 11/26/18
7.625 11/26/2018 - - - - High 200000 1000 N
USD RKPF OVERSEAS 2019 B
ROADKG 7 3/4 04/18/21
7.75 4/18/2021 101.398 101.743 7.07 6.903 High 200000 1000 N
USD RKI OVERSEAS FIN 2017 A
ROADKG 7 PERP
7 Perp. 75.386 76.192 9.284 9.186 High 200000 1000 Y
USD RKP OVERSEAS FI 2016 A
ROADKG 7.95 PERP
7.95 Perp. 80.617 81.495 9.86 9.754 High 200000 1000 Y
USD RONSHINE CHINA
RONXIN 6.95 12/08/19
6.95 12/8/2019 99.622 100.243 7.39 6.647 High 200000 1000 Y
USD RONSHINE CHINA
RONXIN 8 1/4 02/01/21
8.25 2/1/2021 97.411 98.062 9.688 9.321 High 200000 1000 N
USD SHIMAO PROPERTY HLDGS
SHIMAO 8 3/8 02/10/22
8.375 2/10/2022 104.264 104.75 6.8 6.626 High 200000 1000 Y
USD SHUI ON DEVELOPMENT HLDG
SHUION 5.7 02/06/21
5.7 2/6/2021 99.006 99.436 6.226 5.997 High 200000 1000 N
USD SHUI ON DEVELOPMENT HLDG
SHUION 6.4 PERP
6.4 Perp. 93.222 93.848 9.811 9.751 High 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 6 7/8 08/08/20
6.875 8/8/2020 98.49 98.995 7.931 7.575 High 200000 1000 N
USD SUNAC CHINA HOLDINGS LTD
SUNAC 7.95 08/08/22
7.95 8/8/2022 95.317 96.001 9.537 9.299 High 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 8 3/4 12/05/19
8.75 12/5/2019 101.933 102.499 6.405 5.739 High 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 8.35 04/19/23
8.35 4/19/2023 94.004 94.731 10.117 9.895 High 200000 1000 Y
USD SUNSHINE 100 CHINA HLDGS
SUNCHN 8 1/2 09/27/20
8.5 9/27/2020 90.972 92.029 14.745 13.97 High 200000 1000 Y
USD SCENERY JOURNEY LTD
TIANHL 11 11/06/20
11 11/6/2020 101.133 101.426 10.269 10.087 High 200000 1000 N
USD SCENERY JOURNEY LTD
TIANHL 13 11/06/22
13 11/6/2022 103.932 104.566 11.671 11.465 High 200000 1000 Y
USD SCENERY JOURNEY LTD
TIANHL 13 3/4 11/06/23
13.75 11/6/2023 103.791 104.453 12.655 12.472 High 200000 1000 Y
USD VLL INTERNATIONAL INC
VLLPM 7 3/8 06/18/22
7.375 6/18/2022 103.079 103.861 6.352 6.099 High 200000 1000 N
USD XINYUAN REAL ESTATE
XIN 7 3/4 02/28/21
7.75 2/28/2021 79.082 80.092 20.498 19.786 High 200000 1000 N
USD XINYUAN REAL ESTATE
XIN 8 1/8 08/30/19
8.125 8/30/2019 93.773 94.605 19.71 18.089 High 200000 1000 N
USD XINYUAN REAL ESTATE
XIN 8 7/8 11/22/20
8.875 11/22/2020 83.42 84.383 20.113 19.381 High 200000 1000 N
USD PANDA GREEN ENERGY GROUP
GDPOLY 8 1/4 01/25/20
8.25 1/25/2020 79.747 80.689 33.617 32.226 High 200000 1000 N
USD GUANGHUI INVESTMENT GR
GUANGH 7 7/8 03/30/20
7.875 3/30/2020 91.616 92.469 15.872 15.009 High 200000 1000 N
USD REPUBLIC OF INDONESIA
INDON 5 1/8 01/15/45
5.125 1/15/2045 101.811 102.42 5 4.958 High 200000 1000 N
USD REPUBLIC OF SRI LANKA
SRILAN 6 1/4 10/04/20
6.25 10/4/2020 99.313 100.165 6.677 6.139 High 100000 1000 N
USD REPUBLIC OF SRI LANKA
SRILAN 6 1/8 06/03/25
6.125 6/3/2025 93.164 93.982 7.493 7.323 High 200000 1000 N
USD UKRAINE GOVERNMENT
UKRAIN 7 3/4 09/23/20
7.75 9/23/2020 - - - - High 100000 1000 N
USD REPUBLIC OF VENEZUELA
VENZ 11 3/4 10/21/26 (Offer Suspended)
11.75 10/21/2026 28.061 28.579 43.42 42.788 - 50000 100 N
USD REPUBLIC OF VENEZUELA
VENZ 9 05/07/23 (Offer Suspended)
9 5/7/2023 26.972 27.78 51.351 50.191 - 50000 100 N
USD HUTCH WHAM INT 09 LTD
CKHH 7 5/8 04/09/19
7.625 4/9/2019 100.962 100.998 2.974 2.808 Low 100000 1000 N
USD HUTCH WHAM INT 09 LTD
CKHH 7 5/8 04/09/19
7.625 4/9/2019 100.962 100.998 2.974 2.808 Low 100000 1000 N
USD HUTCHISON WHAM INT 03/33
CKHH 7.45 11/24/33
7.45 11/24/2033 135.476 136.687 4.21 4.12 Middle 100000 1000 N
USD WISEYEAR HOLDINGS LTD
KERPRO 5 7/8 04/06/21
5.875 4/6/2021 103.672 103.883 4.111 4.012 Middle 200000 1000 N
USD SOFTBANK GROUP CORP
SOFTBK 5 3/8 07/30/22
5.375 7/30/2022 100.673 101.48 5.163 4.912 High 200000 1000 Y
USD PCCW CAPITAL NO 4 LTD
PCCW 5 3/4 04/17/22
5.75 4/17/2022 105.048 105.31 4.066 3.981 Middle 200000 1000 N
TRY EUROPEAN INVESTMENT BANK
EIB 10 1/2 03/12/19 (Offer Suspended)
10.5 3/12/2019 97.92 105.2 25.422 -25.605 Middle 50000 1000 N
SGD CHINA AOYUAN GROUP LTD
CAPG 7.15 09/07/21
7.15 9/7/2021 98.611 99.501 7.739 7.357 High 250000 1000 Y
SGD OLAM INTERNATIONAL LTD
OLAMSP 6 10/25/22
6 10/25/2022 - - - - High 250000 250000 N
SGD BANYAN TREE HOLDINGS LTD
BTHSP 5 3/4 07/31/18
5.75 7/31/2018 - - - - High 250000 250000 N
HKD NWD MTN LTD
NWDEVL 5.9 09/18/23
5.9 9/18/2023 - - - - High 2000000 500000 N
HKD HONG KONG MORTGAGE CORP
HKMTGC 1.83 02/14/20
1.83 2/14/2020 - - - - Middle 1000000 1000000 N
HKD MTR CORP CI LTD
MTRC 5.2 07/18/18
5.2 7/18/2018 - - - - Low 500000 500000 N
GBP GENERAL ELECTRIC CO
GE 6 1/2 09/15/67
6.5 9/15/2067 - - - - Middle 50000 1000 Y
GBP GOLDMAN SACHS GROUP INC
GS 6 7/8 01/18/38
6.875 1/18/2038 130.119 132.025 4.499 4.375 High 50000 1000 N
GBP PRUDENTIAL PLC
PRUFIN 11 3/8 05/29/39
11.375 5/29/2039 103.394 103.469 11.93 11.921 High 50000 1000 Y
GBP BHP BILLITON FINANCE LTD
BHP 6 1/2 10/22/77
6.5 10/22/2077 111.063 111.942 5.581 5.534 High 100000 1000 Y
GBP ELECTRICITE DE FRANCE SA
EDF 6 PERP
6 Perp. 99.209 100.127 5.73 5.676 High 100000 100000 Y
GBP HEATHROW FINANCE PLC
HTHROW 5 3/8 09/01/19
5.375 9/1/2019 101.759 102.238 2.441 1.66 Middle 100000 1000 N
EUR GENERAL ELECTRIC CO
GE 5 1/2 09/15/67
5.5 9/15/2067 - - - - High 50000 1000 Y
CHF SCOR SE
SCOR 5 1/4 PERP
5.25 Perp. - - - - High 50000 5000 Y
AUD VIRGIN AUSTRALIA HOLDING
VAHAU 8 1/4 05/30/23
8.25 5/30/2023 102.44 106 7.577 6.637 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 94.5 94.5 11.757 11.757 High 160000 100 N
USD ALBARAKA TURK KATILIM BA
ALBRK 6 1/4 06/30/19
6.25 6/30/2019 99.526 100.278 7.342 5.575 High 200000 1000 N
USD BARCLAYS BANK PLC
BACR 5.14 10/14/20
5.14 10/14/2020 101.52 102.12 4.213 3.854 Middle 100000 1000 N
USD BANGKOK BANK PCL/HK
BBLTB 9.025 03/15/29
9.025 3/15/2029 130.973 131.467 5.079 5.026 High 100000 1000 N
USD BANK OF EAST ASIA LTD
BNKEA 6 1/8 07/16/20
6.125 7/16/2020 103.344 103.593 3.781 3.61 Middle 100000 1000 N
USD BANK OF EAST ASIA LTD
BNKEA 8 1/2 PERP
8.5 Perp. 102.774 103.347 9.86 9.806 High 100000 1000 Y
USD CHINA CITIC BANK INTL
CINDBK 6 7/8 06/24/20
6.875 6/24/2020 103.679 104.008 4.175 3.941 Middle 100000 1000 N
USD CREDIT SUISSE NEW YORK
CS 5.4 01/14/20
5.4 1/14/2020 102.233 102.233 3.057 3.057 Middle 50000 1000 N
USD DAH SING BANK LTD
DAHSIN 6 5/8 02/11/20
6.625 2/11/2020 102.683 102.843 3.988 3.834 Middle 100000 1000 N
USD ICBC ASIA LTD
ICBCAS 5 1/8 11/30/20
5.125 11/30/2020 102.388 102.66 3.776 3.625 Low 100000 1000 N
USD ING GROEP NV
INTNED 6 PERP
6 Perp. 99.148 99.823 7.076 7.029 High 200000 1000 Y
USD LLOYDS BANK PLC
LLOYDS 6 1/2 09/14/20
6.5 9/14/2020 103.791 104.106 4.085 3.89 Middle 100000 1000 N
USD ST SAVINGS BK (SSB #1)
OSCHAD 9 3/8 03/10/23
9.375 3/10/2023 99.701 100.486 9.458 9.225 High 200000 1000 N
USD ROYAL BK OF SCOTLAND NV
RBS 4.65 06/04/18
4.65 6/4/2018 99.964 100.064 - - High 50000 1000 N
USD STANDARD CHARTERED BK HK
STANLN 5 7/8 06/24/20
5.875 6/24/2020 102.814 103.087 3.817 3.622 Middle 100000 1000 N
USD YAPI VE KREDI BANKASI AS
YKBNK 5 1/2 12/06/22
5.5 12/6/2022 86.2 87.658 9.873 9.372 Middle 200000 1000 N
USD CREDIT AGRICOLE SA
ACAFP 0 PERP
3.93913 Perp. 85.505 86.587 4.694 4.636 High 100000 1000 Y
USD SOCIETE GENERALE
SOCGEN 4 1/4 08/19/26
4.25 8/19/2026 94.678 95.361 5.106 4.993 High 200000 1000 N
USD SOCIETE GENERALE
SOCGEN 5 01/17/24
5 1/17/2024 100.304 100.93 4.93 4.788 High 200000 1000 N
USD SOCIETE GENERALE
SOCGEN 7 7/8 PERP
7.875 Perp. 102.126 102.812 7.552 7.501 High 200000 1000 Y
USD STANDARD CHARTERED PLC
STANLN 3.95 01/11/23
3.95 1/11/2023 97.51 97.91 4.644 4.531 High 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 4.3 02/19/27
4.3 2/19/2027 94.829 95.561 5.089 4.974 High 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 5.2 01/26/24
5.2 1/26/2024 101.622 102.69 4.831 4.593 Middle 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 5.7 01/25/22
5.7 1/25/2022 103.745 104.172 4.357 4.208 Middle 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 7.014 PERP
7.014 Perp. 100.306 101.268 6.093 6.024 High 100000 100000 Y
SGD ICICI BANK LTD/DUBAI
ICICI 3.65 01/14/20
3.65 1/14/2020 100.6 100.883 3.02 2.726 High 250000 250000 N
SGD MALAYAN BANKING BHD
MAYMK 6 PERP
6 Perp. - - - - High 250000 250000 Y
SGD UNITED OVERSEAS BANK LTD
UOBSP 4 3/4 PERP
4.75 Perp. 101.432 101.764 4.908 4.892 High 250000 250000 Y
HKD BANK OF CHINA/HONG KONG
BCHINA 2.095 10/06/20
2.095 10/6/2020 - - - - High 500000 100000 N
HKD BANK OF EAST ASIA LTD
BNKEA 2.97 06/24/19
2.97 6/24/2019 - - - - Middle 1500000 500000 N
HKD BK OF COMMUNICATIONS/HK
BOCOM 2 08/17/20
2 8/17/2020 - - - - High 500000 500000 N
HKD BK OF COMMUNICATIONS/HK
BOCOM 3.2 04/09/19
3.2 4/9/2019 - - - - Low 1500000 500000 N
HKD HANG SENG BANK LTD
HANSEN 2 1/4 05/11/20
2.25 5/11/2020 - - - - High 1000000 1000000 N
HKD CHINA DEVELOPMENT BK/HK
SDBC 3 1/4 09/17/18
3.25 9/17/2018 - - - - Low 1000000 1000000 N
GBP STANDARD CHARTERED PLC
STANLN 5 1/8 06/06/34
5.125 6/6/2034 109.085 110.505 4.303 4.183 High 100000 1000 N
EUR BANK OF AMERICA CORP
BAC 0 05/06/19
1.142 5/6/2019 100.112 100.268 0.78 0.252 Low 50000 1000 Y
EUR BNP PARIBAS
BNP 4 7/8 PERP (Offer Suspended)
4.875 Perp. 102.169 102.801 4.77 4.741 High 50000 1000 Y
AUD SOCIETE GENERALE
SOCGEN 5 07/20/28
8 7/20/2028 102.182 102.857 4.854 4.766 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 BOC AVIATION LTD
BOCAVI 3 03/30/20
3 3/30/2020 99.393 99.539 3.524 3.397 Middle 200000 1000 N
USD DOUBLE CHARM LTD
EVBSF 2 7/8 08/27/18
2.875 8/27/2018 - - - - Middle 200000 1000 N
USD TEMASEK FINANCIAL I LTD
TEMASE 4.3 10/25/19
4.3 10/25/2019 101.006 101.11 2.939 2.8 Low 250000 1000 N
USD BAIDU INC
BIDU 3 1/2 11/28/22
3.5 11/28/2022 98.9 99.226 3.809 3.717 Low 200000 1000 N
USD BAIDU INC
BIDU 3 1/4 08/06/18
3.25 8/6/2018 - - - - Low 200000 1000 N
USD BAIDU INC
BIDU 3 1/4 08/06/18
3.25 8/6/2018 - - - - Middle 200000 1000 N
USD COUNTRY GARDEN HLDGS
COGARD 4 3/4 07/25/22
4.75 7/25/2022 92.791 93.47 7.109 6.878 Middle 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 4 3/4 09/28/23
4.75 9/28/2023 89.02 89.67 7.578 7.399 High 200000 1000 Y
USD ESTATE SKY LTD
CSIPTY 4 7/8 08/08/21
4.875 8/8/2021 96.556 97.278 6.363 6.045 High 200000 1000 N
USD HONGKONG LAND FINANCE
HKLSP 4 1/2 06/01/22
4.5 6/1/2022 103.126 103.385 3.503 3.422 Low 200000 1000 N
USD NAN FUNG TREASURY LTD
NANFUN 4 1/2 09/20/22
4.5 9/20/2022 101.652 101.983 4.009 3.912 Middle 200000 1000 N
USD SHUI ON DEVELOPMENT HLDG
SHUION 4 3/8 10/05/19
4.375 10/5/2019 99.275 99.744 5.434 4.742 High 200000 1000 N
USD SAN MIGUEL CORP
SMCPM 4 7/8 04/26/23
4.875 4/26/2023 97.313 97.874 5.591 5.439 High 200000 1000 Y
USD UKRAINE GOVERNMENT
UKRAIN 0 05/31/40
- 5/31/2040 58.095 59.079 - - High 50000 1000 N
USD HUTCH WHAMPOA INT 12 II
CKHH 3 1/4 11/08/22
3.25 11/8/2022 98.9 99.167 3.562 3.485 Middle 200000 1000 N
USD PCCW-HKT CAPITAL NO5 LTD
PCCW 3 3/4 03/08/23
3.75 3/8/2023 99.076 99.376 3.994 3.914 Middle 200000 1000 N
USD HKT CAPITAL NO 2 LTD
PCCW 3 5/8 04/02/25
3.625 4/2/2025 96.735 97.19 4.229 4.143 Middle 200000 1000 N
TRY
TRY EUROPEAN INVESTMENT BANK
EIB 0 09/05/22 (Offer Suspended)
- 9/5/2022 55.97 57.271 17.393 16.65 Low 50000 1000 N
SGD
SGD WHEELOCK FINANCE LTD
WHEELK 4 1/2 09/02/21
4.5 9/2/2021 104.085 104.275 2.866 2.792 Middle 250000 250000 N
SGD GLL IHT PTE LTD
GUOLSP 4.1 05/13/20
4.1 5/13/2020 - - - - High 250000 250000 N
SGD WING TAI HOLDINGS
WINGTA 4 1/2 09/26/22
4.5 9/26/2022 102.519 103.174 3.759 3.57 High 250000 250000 N
HKD
HKD FAR EAST HORIZON LTD
FRESHK 4.65 05/07/21
4.65 5/7/2021 - - - - High 500000 100000 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 - - - - Middle 1000000 1000000 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 URBAN RENEWAL AUTHORITY
URBREN 1.65 01/17/20
1.65 1/17/2020 - - - - Low 1000000 1000000 N
HKD SUN HUNG KAI PROP (CAP)
SUNHUN 2 3/4 04/30/21
2.75 4/30/2021 - - - - Middle 1000000 500000 N
HKD SUN HUNG KAI PROP (CAP)
SUNHUN 2.95 05/08/23
2.95 5/8/2023 - - - - Low 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 MTR CORP CI LTD
MTRC 2 1/4 12/28/24
2.25 12/28/2024 - - - - Low 1000000 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 - - - - Low 1000000 1000000 N
GBP
GBP BHP BILLITON FINANCE LTD
BHP 3 1/4 09/25/24
3.25 9/25/2024 107.199 107.645 1.898 1.819 Middle 100000 1000 N
GBP AMERICAN INTL GROUP
AIG 0 03/15/67
2.61138 3/15/2067 88.05 89.642 3.108 3.039 High 50000 50000 Y
GBP VODAFONE GROUP PLC
VOD 3 08/12/56
3 8/12/2056 79.839 80.997 4.054 3.983 High 100000 1000 N
CNY
CNY VOLKSWAGEN INTL FIN NV
VW 3 1/2 01/23/19
3.5 1/23/2019 99.982 100.014 10.146 -1.576 Middle 1000000 1000000 N
CNY BOC AVIATION LTD
BOCAVI 4 1/2 11/20/18
4.5 11/20/2018 - - - - Low 1000000 10000 N
CNY FUQING INVESTMENT MGMT
PINGRE 4.85 07/21/18
4.85 7/21/2018 - - - - High 1000000 100000 N
CNY BP CAPITAL MARKETS PLC
BPLN 3.95 10/08/18
3.95 10/8/2018 - - - - Low 1000000 10000 N
CNY VALUE SUCCESS INTL LTD
PINGIN 4 3/4 11/04/18
4.75 11/4/2018 - - - - Middle 1000000 10000 N
CNY VALUE SUCCESS INTL LTD
PINGIN 4.95 01/29/19
4.95 1/29/2019 100.015 100.037 3.98 2.652 High 1000000 10000 N
CNY SHUI ON DEVELOPMENT HLDG
SHUION 6 7/8 03/02/21
6.875 3/2/2021 100.014 100.456 6.863 6.635 - 1000000 10000 Y
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

 

Hotline:2277 6536   Product Development

e-mail:smp@phillip.com.hk

 

Terms and Conditions:

      1. The preferentialrate offer applies to Share Mortgage contract till 31 December 2017.
      2. Other charges of purchasing bond are not included in Share Mortgage Scheme.
      3. For initial payment detail, please refer to : "Details of Share Mortgage Scheme"。For monthly payment amount, please refer to "Calculator".
      4. POEMS Points Redemption does not apply to the bond purchase with the financing.
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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