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Press Releases

Tender for the re-opening of 5-year Government Bonds
under the Institutional Bond Issuance Programme
to be held on Wednesday, 5 October 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 3-year Government Bonds (Bonds) through the re-opening of existing 5-year Government Bond issue 05GB2002 under the Institutional Bond Issuance Programme will be held on Wednesday, 5 October 2016, for settlement on Thursday, 6 October 2016.

An additional amount of HK$4.0 billion of the outstanding 5-year Bonds (issue no. 05GB2002) will be on offer.  The Bonds will mature on 5 February 2020 and will carry interest at the rate of 1.06% per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on 26 September 2016 is 101.60 with an annualised yield of 0.579%.

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
26 September 2016


 

HKSAR GOVERNMENT
INSTITUTIONAL BOND ISSUANCE PROGRAMME
TENDER INFORMATION
_________________________________________________________________

Tender information of re-opening of 5-year Government Bonds under the Institutional Bond Issuance Programme:-

Issue Number

:

05GB2002 (Re-open)

Stock code

:

4225 (HKGB 1.06 2002)

Tender Date and Time

:

Wednesday, 5 October 2016
9:30 am to 10:30 am

Issue and Settlement Date for tender amount

:

Thursday, 6 October 2016

Amount on Offer

:

HK$4.0 billion

Maturity              

:

3 years

Remaining Maturity

:

Approximately 3.33 years

Maturity Date

:

5 February 2020

Interest Rate    

:

1.06% p.a. payable semi-annually in arrears

Interest Payment Dates 

:

6 February 2017
7 August 2017
5 February 2018
6 August 2018
8 February 2019
5 August 2019
5 February 2020

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 (6 October 2016) for the tender amount is HK$90.03 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 05GB2002 (Stock code: 4225) 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

-0.421

104.97

0.579

101.59

-0.371

104.80

0.629

101.42

-0.321

104.63

0.679

101.26

-0.271

104.46

0.729

101.09

-0.221

104.28

0.779

100.93

-0.171

104.11

0.829

100.76

-0.121

103.94

0.879

100.60

-0.071

103.77

0.929

100.44

-0.021

103.60

0.979

100.27

0.029

103.43

1.029

100.11

0.079

103.26

1.079

99.95

0.129

103.09

1.129

99.79

0.179

102.92

1.179

99.62

0.229

102.76

1.229

99.46

0.279

102.59

1.279

99.30

0.329

102.42

1.329

99.14

0.379

102.25

1.379

98.98

0.429

102.09

1.429

98.82

0.479

101.92

1.479

98.66

0.529

101.75

1.529

98.50

0.579

101.59

1.579

98.34

 

* 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
26 September 2016

Last revision date: 26 September 2016
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