SYDNEY - Hong Kong's airport aims to raise up to $3 billion in U.S dollar bonds, people with direct knowledge of the matter told Reuters.

Airport Authority Hong Kong has mandated investment banks to work on a U.S dollar bond deal, according to a term sheet seen by Reuters on Thursday.

The people declined to be identified as the information has not yet been made public.

"Announcement will be made when it is appropriate to do so," a spokesperson for Airport Authority Hong Kong said in response to a Reuters query.

The bonds are due to be issued in three-, five-, seven- and 10-year tranches, the term sheet showed.

The five-year bond will be a green bond.

(Reporting by Scott Murdoch in Sydney and Savyata Mishra in Bengaluru; Editing by Tom Hogue and Christopher Cushing)