Clifford Chance advises The Hong Kong Mortgage Corporation Limited on HK$12 billion inaugural public digital bond issuance
Global law firm Clifford Chance has advised The Hong Kong Mortgage Corporation Limited on its HK$12 billion inaugural public digital bond issuance, comprising HK$6 billion, HK$2.5 billion and CNH 3 billion senior unsecured notes across 2-year, 5-year and 3-year tenors, respectively, under its US$30 billion Medium Term Note Programme.
The transaction marks the largest-ever digital bond issuance globally to date and a significant milestone, as the first public sector entity in Hong Kong to issue digital bonds. The 5-year Hong Kong-dollar tranche also represents the longest tenor ever for a HKD digital bond to date, setting a new benchmark in the local market.
Lead partner Mark Chan said, “This transaction highlights the continued evolution of Hong Kong’s debt capital markets, with growing momentum behind digital and tokenised bond issuances as issuers and investors seek greater efficiency, transparency and settlement optimisation.”
Mark Chan led the transaction with support from counsel Torrance Shi, senior associate Christine Chan and trainee solicitor Oliver Lai.
Clifford Chance is a pioneer in the digital bonds and tokenised securities space, having advised on many of the earliest and most influential digital bond issuances globally. These include advising on Hong Kong’s first digital bond by a corporate issuer, Eurozone’s first sovereign digital bond issuance, the world’s first digital “gender bond” and the first digital bond denominated in UAE dirhams.
Media contact: Madhu Mirpuri
