Hong Kong Dollar Bond Sales Boom as Issuers Tap Into Haven Flows

Global borrowers are flocking to issue bonds in Hong Kong dollars as the currency’s status as a haven from the conflict in Iran bolsters demand for the securities.

The International Bank for Reconstruction and Development, the World Bank’s lending arm, priced a HK$8 billion ($1 billion) five-year note on Monday, the largest Hong Kong dollar-denominated public bond sold by an international issuer.