Hong Kong is seeking to raise HK$3 billion through tenders for institutional government bonds to fund infrastructure projects, according to a Wednesday statement from the Hong Kong Monetary Authority.

The offering includes HK$1.75 billion of five-year bonds maturing on June 25, 2031, carrying a coupon rate of 2.96% per annum.

The city will also offer HK$1.25 billion of 10-year bonds maturing on July 24, 2035, with a coupon rate of 3.17% per annum.

The bonds will be issued through the reopening of existing bond series.

Settlement for both offerings is scheduled for June 25, the de facto central bank said.