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 93.833 94.915 8.788 8.554 High 50000 1000 Y
USD GARUDA ID GLOBAL SUKUK
GARUDA 5.95 06/03/20
5.95 6/3/2020 96.073 96.857 8.729 8.162 High 200000 1000 N
USD GRAND CHINA AIR HONG KON
GRCHAR 6 3/8 03/07/19
6.375 3/7/2019 89.55 90.752 45.371 40.425 High 200000 1000 N
USD HNA GROUP INTL CO LTD
SANYPH 6 08/18/19
6 8/18/2019 86.841 87.649 26.475 25.07 High 200000 1000 N
USD HNA GROUP INTL CO LTD
SANYPH 8 1/8 12/03/18
8.125 12/3/2018 97.978 98.794 59.1 38.167 High 200000 1000 N
USD HNA GROUP INTL CO LTD
SANYPH 8 7/8 11/06/18
8.875 11/6/2018 96.648 97.497 - - High 200000 1000 N
USD STUDIO CITY FINANCE LTD
STCITY 8 1/2 12/01/20
8.5 12/1/2020 99.894 100.251 8.555 8.36 High 250000 1000 Y
USD ZHONGRONG INT RES CO LTD
SDCOKI 7 1/4 10/26/20
7.25 10/26/2020 65.046 68.025 33.087 30.235 High 200000 1000 N
USD LI & FUNG LTD
LIFUNG 5 1/4 PERP
5.25 Perp. 67.25 69.071 7.806 7.6 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. 97.168 97.867 6.641 6.594 High 200000 1000 Y
USD TBLA INTERNATIONAL PTE L
TBLAIJ 7 01/24/23
7 1/24/2023 85.572 86.406 11.43 11.15 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 95.609 96.258 7.617 7.429 High 200000 1000 Y
USD DAI-ICHI LIFE INSURANCE
DAIL 7 1/4 PERP
7.25 Perp. 107.471 108.099 6.734 6.695 High 50000 1000 Y
USD ZOOMLION HK SPV CO LTD
ZOOMLI 6 1/8 12/20/22
6.125 12/20/2022 93.308 94.03 8.078 7.859 High 200000 1000 N
USD BHP BILLITON FIN USA LTD
BHP 6 1/4 10/19/75
6.25 10/19/2075 103.557 104.01 7.551 7.519 High 200000 1000 Y
USD NOBLE GROUP LTD
NOBLSP 8 3/4 03/09/22 (Offer Suspended)
8.75 3/9/2022 47 47 36.27 36.27 - 200000 1000 Y
USD ABJA INVESTMENT CO
TATAIN 5.95 07/31/24
5.95 7/31/2024 99.043 99.72 6.149 6.007 High 200000 1000 N
USD VEDANTA RESOURCES PLC
VEDLN 6 01/31/19
6 1/31/2019 100.02 100.619 5.739 2.768 Middle 200000 1000 N
USD FORTUNE STAR BVI LTD
FOSUNI 5 3/8 12/05/20
5.375 12/5/2020 95.569 96.224 7.758 7.397 Middle 200000 1000 N
USD FORTUNE STAR BVI LTD
FOSUNI 5.95 01/29/23
5.95 1/29/2023 87.742 88.45 9.561 9.336 Middle 200000 1000 Y
USD GLOBAL PRIME CAPITAL
BSDEIJ 7 1/4 04/26/21
7.25 4/26/2021 98.976 99.6 7.716 7.429 High 200000 1000 Y
USD CHN AOYUAN PROPERTY GRP
CAPG 6.35 01/11/20
6.35 1/11/2020 97.633 98.268 8.552 7.951 High 200000 1000 N
USD CHN AOYUAN PROPERTY GRP
CAPG 7 1/2 05/10/21
7.5 5/10/2021 94.196 94.791 10.211 9.923 High 200000 1000 Y
USD CENTRAL CHN REAL ESTATE
CENCHI 8 01/28/20
8 1/28/2020 99.047 99.607 8.842 8.336 High 200000 1000 Y
USD CENTRAL CHINA REAL ESTAT
CENCHI 8 3/4 01/23/21
8.75 1/23/2021 98.362 99.083 9.589 9.213 High 200000 1000 Y
USD CFLD CAYMAN INVESTMENT
CHFOTN 6 1/2 12/21/20
6.5 12/21/2020 90.463 91.244 11.775 11.316 Middle 200000 1000 N
USD FRANSHION DEVELOPMENT
CHJMAO 6 3/4 04/15/21
6.75 4/15/2021 104.306 104.569 4.83 4.716 Middle 200000 1000 N
USD COUNTRY GARDEN HLDGS
COGARD 5 1/8 01/17/25
5.125 1/17/2025 81.517 82.279 9.108 8.924 High 200000 1000 Y
USD COUNTRY GARDEN HLDG CO
COGARD 7 1/2 03/09/20
7.5 3/9/2020 100.354 100.856 7.198 6.792 High 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 7 1/4 04/04/21
7.25 4/4/2021 98.622 99.214 7.891 7.612 High 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 10 7/8 08/24/20
10.875 8/24/2020 85.591 86.412 20.913 20.278 High 200000 1000 N
USD CHINA SOUTH CITY HOLDING
CSCHCN 5 3/4 03/09/20
5.75 3/9/2020 81.49 82.296 22.911 22.053 High 200000 1000 N
USD CHINA SOUTH CITY HOLDING
CSCHCN 6 3/4 09/13/21
6.75 9/13/2021 72.114 72.947 20.192 19.702 High 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 7 1/4 11/20/22
7.25 11/20/2022 68.197 69.153 18.937 18.493 High 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 6 1/4 06/28/21
6.25 6/28/2021 91.334 91.978 10.106 9.804 High 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 7 03/23/20
7 3/23/2020 97.626 98.351 8.899 8.309 High 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 7 1/2 06/28/23
7.5 6/28/2023 83.477 84.218 12.298 12.058 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 8 1/4 03/23/22
8.25 3/23/2022 90.989 91.73 11.566 11.278 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 8 3/4 06/28/25
8.75 6/28/2025 81.241 81.897 13.07 12.898 High 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 9 1/2 03/29/24
9.5 3/29/2024 84.241 84.931 13.741 13.535 High 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 10 3/4 01/22/20 (Offer Suspended)
10.75 1/22/2020 88.024 89.134 22.875 21.649 Middle 200000 1000 Y
USD NEW METRO GLOBAL LTD
FTLNHD 6 1/2 04/23/21
6.5 4/23/2021 94.137 94.687 9.247 8.98 Middle 200000 1000 Y
USD FUTURE LAND DEVELOPMENT
FUTLAN 5 02/16/20
5 2/16/2020 96.088 96.728 8.372 7.806 High 200000 1000 N
USD EASY TACTIC LTD
GZRFPR 7 04/25/21
7 4/25/2021 93.587 94.147 10.031 9.756 Middle 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 8 1/2 06/30/22
8.5 6/30/2022 71.716 72.609 19.812 19.374 High 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 9 3/8 06/30/24
9.375 6/30/2024 66.949 67.394 19.248 19.076 High 200000 1000 Y
USD LOGAN PROPERTY HOLDINGS
LOGPH 5 1/4 02/23/23
5.25 2/23/2023 79.292 80.061 11.542 11.274 High 200000 1000 Y
USD GEMSTONES INTERNATIONAL
LVGEM 8 1/2 08/15/20
8.5 8/15/2020 93.575 94.514 12.713 12.071 High 200000 1000 N
USD MODERN LAND CHINA CO LTD
MOLAND 6 7/8 10/20/19
6.875 10/20/2019 91 91.89 17.898 16.732 High 200000 1000 N
USD POWERLONG REAL ESTATE HL
PWRLNG 7 5/8 11/26/18
7.625 11/26/2018 99.788 100.162 17.91 -0.68 High 200000 1000 N
USD RKI OVERSEAS FIN 2017 A
ROADKG 7 PERP
7 Perp. 74.529 75.373 9.391 9.286 High 200000 1000 Y
USD RKP OVERSEAS FI 2016 A
ROADKG 7.95 PERP
7.95 Perp. 77.639 78.503 10.236 10.124 High 200000 1000 Y
USD RONSHINE CHINA
RONXIN 6.95 12/08/19
6.95 12/8/2019 99.01 99.484 7.942 7.463 High 200000 1000 Y
USD RONSHINE CHINA
RONXIN 8 1/4 02/01/21
8.25 2/1/2021 92.289 93.03 12.343 11.93 High 200000 1000 N
USD SHIMAO PROPERTY HLDGS
SHIMAO 8 3/8 02/10/22
8.375 2/10/2022 102.208 102.772 7.584 7.387 High 200000 1000 Y
USD SHUI ON DEVELOPMENT HLDG
SHUION 5.7 02/06/21
5.7 2/6/2021 97.429 97.945 6.967 6.709 High 200000 1000 N
USD SUNAC CHINA HOLDINGS LTD
SUNAC 6 7/8 08/08/20
6.875 8/8/2020 95.172 95.901 9.987 9.502 High 200000 1000 N
USD SUNAC CHINA HOLDINGS LTD
SUNAC 7.95 08/08/22
7.95 8/8/2022 90 90.627 11.309 11.084 High 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 8 3/4 12/05/19
8.75 12/5/2019 100.828 101.361 7.902 7.366 High 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 8.35 04/19/23
8.35 4/19/2023 88.627 89.324 11.717 11.495 High 200000 1000 Y
USD SUNSHINE 100 CHINA HLDGS
SUNCHN 8 1/2 09/27/20
8.5 9/27/2020 90.927 91.983 14.215 13.511 High 200000 1000 Y
USD VLL INTERNATIONAL INC
VLLPM 7 3/8 06/18/22
7.375 6/18/2022 103.176 103.8 6.367 6.173 High 200000 1000 N
USD XINYUAN REAL ESTATE
XIN 7 3/4 02/28/21
7.75 2/28/2021 78.713 79.546 19.794 19.247 High 200000 1000 N
USD XINYUAN REAL ESTATE
XIN 8 1/8 08/30/19
8.125 8/30/2019 91.9 92.699 19.911 18.677 High 200000 1000 N
USD XINYUAN REAL ESTATE
XIN 8 7/8 11/22/20
8.875 11/22/2020 81.804 82.656 20.359 19.749 High 200000 1000 N
USD PANDA GREEN ENERGY GROUP
GDPOLY 8 1/4 01/25/20
8.25 1/25/2020 76.005 76.631 34.554 33.719 High 200000 1000 N
USD GUANGHUI INVESTMENT GR
GUANGH 7 7/8 03/30/20
7.875 3/30/2020 88.37 89.255 17.825 17.004 High 200000 1000 N
USD REPUBLIC OF INDONESIA
INDON 5 1/8 01/15/45
5.125 1/15/2045 93.722 94.345 5.584 5.536 High 200000 1000 N
USD REPUBLIC OF SRI LANKA
SRILAN 6 1/4 10/04/20
6.25 10/4/2020 96.153 96.928 8.506 8.041 High 100000 1000 N
USD REPUBLIC OF SRI LANKA
SRILAN 6 1/8 06/03/25
6.125 6/3/2025 86.761 87.721 8.833 8.62 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 24.82 25.681 45.198 44.045 - 50000 100 N
USD REPUBLIC OF VENEZUELA
VENZ 9 05/07/23 (Offer Suspended)
9 5/7/2023 24.239 24.947 52.312 51.231 - 50000 100 N
USD HUTCH WHAM INT 09 LTD
CKHH 7 5/8 04/09/19
7.625 4/9/2019 101.757 101.808 3.028 2.899 Low 100000 1000 N
USD HUTCH WHAM INT 09 LTD
CKHH 7 5/8 04/09/19
7.625 4/9/2019 101.757 101.808 3.028 2.899 Low 100000 1000 N
USD HUTCHISON WHAM INT 03/33
CKHH 7.45 11/24/33
7.45 11/24/2033 130.834 132.25 4.586 4.477 Middle 100000 1000 N
USD WISEYEAR HOLDINGS LTD
KERPRO 5 7/8 04/06/21
5.875 4/6/2021 103.352 103.621 4.374 4.257 Middle 200000 1000 N
USD SOFTBANK GROUP CORP
SOFTBK 5 3/8 07/30/22
5.375 7/30/2022 100.077 100.819 5.349 5.127 High 200000 1000 Y
USD PCCW CAPITAL NO 4 LTD
PCCW 5 3/4 04/17/22
5.75 4/17/2022 104.3 104.555 4.378 4.299 Middle 200000 1000 N
TRY EUROPEAN INVESTMENT BANK
EIB 10 1/2 03/12/19 (Offer Suspended)
10.5 3/12/2019 95.69 104.89 24.889 -4.834 Middle 50000 1000 N
SGD OLAM INTERNATIONAL LTD
OLAMSP 6 10/25/22
6 10/25/2022 104.199 104.583 4.814 4.708 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 132.905 135.048 4.33 4.195 High 50000 1000 N
GBP PRUDENTIAL PLC
PRUFIN 11 3/8 05/29/39
11.375 5/29/2039 105.143 105.233 11.648 11.636 High 50000 1000 Y
GBP BHP BILLITON FINANCE LTD
BHP 6 1/2 10/22/77
6.5 10/22/2077 111.17 111.905 5.639 5.6 High 100000 1000 Y
GBP ELECTRICITE DE FRANCE SA
EDF 6 PERP
6 Perp. 99.856 100.572 5.807 5.765 High 100000 100000 Y
GBP HEATHROW FINANCE PLC
HTHROW 5 3/8 09/01/19
5.375 9/1/2019 102.494 103.009 2.144 1.495 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 102.55 106.11 7.573 6.664 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 95 95 10.456 10.456 High 160000 100 N
USD ALBARAKA TURK KATILIM BA
ALBRK 6 1/4 06/30/19
6.25 6/30/2019 98.874 100.014 8.149 6.212 High 200000 1000 N
USD BARCLAYS BANK PLC
BACR 5.14 10/14/20
5.14 10/14/2020 101.763 102.235 4.164 3.908 Middle 100000 1000 N
USD BANGKOK BANK PCL/HK
BBLTB 9.025 03/15/29
9.025 3/15/2029 129.379 130.394 5.293 5.184 High 100000 1000 N
USD BANK OF EAST ASIA LTD
BNKEA 6 1/8 07/16/20
6.125 7/16/2020 103.279 103.57 4.056 3.877 Middle 100000 1000 N
USD BANK OF EAST ASIA LTD
BNKEA 8 1/2 PERP
8.5 Perp. 103.499 104.203 9.62 9.555 High 100000 1000 Y
USD CHINA CITIC BANK INTL
CINDBK 6 7/8 06/24/20
6.875 6/24/2020 103.675 103.987 4.462 4.263 Middle 100000 1000 N
USD CREDIT SUISSE NEW YORK
CS 5.4 01/14/20
5.4 1/14/2020 102.072 102.298 3.545 3.347 Middle 50000 1000 N
USD DAH SING BANK LTD
DAHSIN 6 5/8 02/11/20
6.625 2/11/2020 102.724 102.896 4.316 4.174 Middle 100000 1000 N
USD ICBC ASIA LTD
ICBCAS 5 1/8 11/30/20
5.125 11/30/2020 102.248 102.506 3.961 3.83 Low 100000 1000 N
USD ING GROEP NV
INTNED 6 PERP
6 Perp. 99.494 100.118 7.429 7.384 High 200000 1000 Y
USD LLOYDS BANK PLC
LLOYDS 6 1/2 09/14/20
6.5 9/14/2020 104.47 104.855 3.926 3.712 Middle 100000 1000 N
USD ST SAVINGS BK (SSB #1)
OSCHAD 9 3/8 03/10/23
9.375 3/10/2023 99.775 100.544 9.432 9.212 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 104.98 104.98 2.667 2.667 Middle 100000 1000 N
USD YAPI VE KREDI BANKASI AS
YKBNK 5 1/2 12/06/22
5.5 12/6/2022 83.197 85.008 10.724 10.103 Middle 200000 1000 N
USD CREDIT AGRICOLE SA
ACAFP 0 PERP
3.54513 Perp. 86.042 87.442 4.474 4.402 High 100000 1000 Y
USD SOCIETE GENERALE
SOCGEN 4 1/4 08/19/26
4.25 8/19/2026 94.405 94.851 5.133 5.06 High 200000 1000 N
USD SOCIETE GENERALE
SOCGEN 5 01/17/24
5 1/17/2024 100.104 100.512 4.975 4.885 High 200000 1000 N
USD SOCIETE GENERALE
SOCGEN 7 7/8 PERP
7.875 Perp. 100.894 101.544 7.939 7.889 High 200000 1000 Y
USD STANDARD CHARTERED PLC
STANLN 3.95 01/11/23
3.95 1/11/2023 97.471 97.847 4.626 4.524 High 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 4.3 02/19/27
4.3 2/19/2027 94.18 94.808 5.175 5.077 High 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 5.2 01/26/24
5.2 1/26/2024 101.316 101.803 4.908 4.802 Middle 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 5.7 01/25/22
5.7 1/25/2022 103.407 103.796 4.536 4.406 Middle 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 7.014 PERP
7.014 Perp. 102.69 103.861 5.87 5.79 High 100000 100000 Y
SGD ICICI BANK LTD/DUBAI
ICICI 3.65 01/14/20
3.65 1/14/2020 100.749 101.363 2.982 2.442 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. 101.568 102.02 5.186 5.164 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 104.155 105.29 4.739 4.637 High 100000 1000 N
EUR BANK OF AMERICA CORP
BAC 0 05/06/19
1.142 5/6/2019 100.426 100.599 0.246 -0.119 Low 50000 1000 Y
EUR BNP PARIBAS
BNP 4 7/8 PERP (Offer Suspended)
4.875 Perp. 103.02 103.672 4.732 4.702 High 50000 1000 Y
AUD SOCIETE GENERALE
SOCGEN 5 07/20/28
8 7/20/2028 101.606 102.327 5.074 4.98 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 98.977 99.117 3.774 3.668 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 101.067 101.186 3.129 3 Low 250000 1000 N
USD BAIDU INC
BIDU 3 1/2 11/28/22
3.5 11/28/2022 97.907 98.22 4.069 3.983 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 ESTATE SKY LTD
CSIPTY 4 7/8 08/08/21
4.875 8/8/2021 95.238 95.885 6.819 6.548 High 200000 1000 N
USD HONGKONG LAND FINANCE
HKLSP 4 1/2 06/01/22
4.5 6/1/2022 102.229 102.507 3.819 3.736 Low 200000 1000 N
USD NAN FUNG TREASURY LTD
NANFUN 4 1/2 09/20/22
4.5 9/20/2022 100.553 100.884 4.34 4.246 Middle 200000 1000 N
USD SHUI ON DEVELOPMENT HLDG
SHUION 4 3/8 10/05/19
4.375 10/5/2019 98.796 99.278 5.795 5.221 High 200000 1000 N
USD SAN MIGUEL CORP
SMCPM 4 7/8 04/26/23
4.875 4/26/2023 95.443 96.031 6.061 5.904 High 200000 1000 Y
USD UKRAINE GOVERNMENT
UKRAIN 0 05/31/40
- 5/31/2040 56.696 57.759 - - High 50000 1000 N
USD PCCW-HKT CAPITAL NO5 LTD
PCCW 3 3/4 03/08/23
3.75 3/8/2023 98.124 98.395 4.23 4.16 Middle 200000 1000 N
USD HKT CAPITAL NO 2 LTD
PCCW 3 5/8 04/02/25
3.625 4/2/2025 95.192 95.643 4.501 4.417 Middle 200000 1000 N
TRY
TRY EUROPEAN INVESTMENT BANK
EIB 0 09/05/22 (Offer Suspended)
- 9/5/2022 56.172 57.416 16.416 15.745 Low 50000 1000 N
SGD
SGD WHEELOCK FINANCE LTD
WHEELK 4 1/2 09/02/21
4.5 9/2/2021 103.615 104.008 3.135 2.99 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 102.309 102.963 3.848 3.667 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 107.098 107.614 1.953 1.863 Middle 100000 1000 N
GBP AMERICAN INTL GROUP
AIG 0 03/15/67
2.50256 3/15/2067 89.25 91.404 3.004 2.914 High 50000 50000 Y
GBP VODAFONE GROUP PLC
VOD 3 08/12/56
3 8/12/2056 78.565 79.689 4.13 4.06 High 100000 1000 N
CNY
CNY VOLKSWAGEN INTL FIN NV
VW 3 1/2 01/23/19
3.5 1/23/2019 99.801 99.943 4.608 3.802 Middle 1000000 1000000 N
CNY BOC AVIATION LTD
BOCAVI 4 1/2 11/20/18
4.5 11/20/2018 99.98 100.019 11.881 -2.367 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 100.087 100.232 4.455 3.696 High 1000000 10000 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

 

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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