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359.3404

Press Releases

Tender for the re-opening of 15-year Government Bonds
under the Institutional Bond Issuance Programme
to be held on Wednesday, 7 September 2016

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announces today (Monday) that a tender of 15-year Government Bonds (Bonds) through the re-opening of existing 15-year Government Bond issue 15GB3007 under the Institutional Bond Issuance Programme will be held on Wednesday, 7 September 2016, for settlement on Thursday, 8 September 2016.

An additional amount of HK$0.6 billion of the outstanding 15-year Bonds (issue no. 15GB3007) will be on offer.  The Bonds will mature on 16 July 2030 and will carry interest at the rate of 2.13% per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on 29 August 2016 is 112.20 with an annualised yield of 1.179%.

Under the Institutional Bond Issuance Programme, tender is open only to Recognized Dealers which are appointed as Primary Dealers.  Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the current published list, which can be obtained from the Government Bond Programme’s website at http://www.hkgb.gov.hk.  Each tender must be for an amount of HK$50,000 or integral multiples thereof.

Tender results will be published on the HKMA’s website, the Government Bond Programme’s website, the Reuters screen (HKGBINDEX), and Bloomberg (GBHK <GO>) not later than 3:00 pm on the tender day.

 

Hong Kong Monetary Authority
29 August 2016 


HKSAR GOVERNMENT
INSTITUTIONAL BOND ISSUANCE PROGRAMME
TENDER INFORMATION
______________________________________________________________

Tender information of re-opening of 15-year Government Bonds under the Institutional Bond Issuance Programme:-

Issue Number

:

15GB3007 (Re-open)

Stock code

:

4227 (HKGB 2.13 3007)

Tender Date and Time

:

Wednesday, 7 September 2016
9:30 am to 10:30 am

Issue and Settlement Date for tender amount

:

Thursday, 8 September 2016

Amount on Offer

:

HK$0.6 billion

Maturity              

:

15 years

Remaining Maturity

:

Approximately 13.86 years

Maturity Date

:

16 July 2030

Interest Rate 

:

2.13% p.a. payable semi-annually in arrears

Interest Payment Dates 

:

16 January 2017
17 July 2017
16 January 2018
16 July 2018
16 January 2019
16 July 2019
16 January 2020
16 July 2020
18 January 2021
16 July 2021
17 January 2022
18 July 2022
16 January 2023
17 July 2023
16 January 2024
16 July 2024
16 January 2025
16 July 2025
16 January 2026
16 July 2026
18 January 2027
16 July 2027
17 January 2028
17 July 2028
16 January 2029
16 July 2029
16 January 2030
16 July 2030

Method of Tender

:

Competitive tender

Tender Amount

:

Each competitive tender must be for an amount of HK$50,000 or integral multiples thereof.  Any tender applications for the Bonds must be submitted through a Primary Dealer on the current published list.

The accrued interest to be paid by successful bidders on the issue date (8 September 2016) for the tender amount is HK$151.73 per minimum denomination of HK$50,000.

(The accrued interest to be paid for tender amount exceeding HK$50,000 may not be exactly equal to the figures calculated from the accrued interest per minimum denomination of HK$50,000 due to rounding).

Other details 

:

Please see Information Memorandum available on the Government Bond Programme’s website at http://www.hkgb.gov.hk or approach Primary Dealers.

Expected commencement date of dealing on
the Stock Exchange
of Hong Kong Limited

:

The tender amount is fully fungible with the existing 15GB3007 (Stock code: 4227) listed on the Stock Exchange of Hong Kong.

 

Price/Yield Table of the re-opening Government Bonds at tender for reference* only:-

Yield-to-Maturity

Price

Yield-to-Maturity

Price

0.179

126.68

1.179

112.17

0.229

125.91

1.229

111.49

0.279

125.14

1.279

110.83

0.329

124.37

1.329

110.16

0.379

123.61

1.379

109.50

0.429

122.86

1.429

108.85

0.479

122.11

1.479

108.20

0.529

121.37

1.529

107.55

0.579

120.63

1.579

106.91

0.629

119.90

1.629

106.27

0.679

119.17

1.679

105.64

0.729

118.45

1.729

105.01

0.779

117.73

1.779

104.39

0.829

117.02

1.829

103.77

0.879

116.31

1.879

103.16

0.929

115.61

1.929

102.55

0.979

114.91

1.979

101.94

1.029

114.22

2.029

101.34

1.079

113.53

2.079

100.74

1.129

112.85

2.129

100.14

1.179

112.17

2.179

99.56

 

* Disclaimer

The information provided here is for reference only.  Although extreme care has been taken to ensure that the information provided is accurate and up-to-date, the HKMA does not warrant that all, or any part of, the information provided is accurate in all respects.  You are encouraged to conduct your own enquiries to verify any particular piece of information provided on it.  The HKMA shall not be liable for any loss or damage suffered as a result of any use or reliance on any of the information provided here.

 

Hong Kong Monetary Authority
29 August 2016

Last revision date: 29 August 2016
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