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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, 18 October 2017

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 05GB2011 under the Institutional Bond Issuance Programme will be held on Wednesday, 18 October 2017, for settlement on Thursday, 19 October 2017.

An additional amount of HK$4.0 billion of the outstanding 5-year Bonds (issue no. 05GB2011) will be on offer.  The Bonds will mature on 5 November 2020 and will carry interest at the rate of 0.91% per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on 9 October 2017 is 99.24 with an annualised yield of 1.167%.

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
9 October 2017 

 


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

:

05GB2011 (Re-open)

Stock code

:

4229 (HKGB 0.91 2011)

Tender Date and Time

:

Wednesday, 18 October 2017

9:30 am to 10:30 am

Issue and Settlement Date for tender amount

:

Thursday, 19 October 2017

Amount on Offer

:

HK$4.0 billion

Maturity              

:

3 years

Remaining Maturity

:

Approximately 3.05 years

Maturity Date

:

5 November 2020

Interest Rate    

:

0.91% p.a. payable semi-annually in arrears

Interest Payment Dates 

:

6 November 2017

7 May 2018

5 November 2018

6 May 2019

5 November 2019

5 May 2020

5 November 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 (19 October 2017) for the tender amount is HK$208.18 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 05GB2011 (Stock code: 4229) 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

0.167

102.25

1.167

99.24

0.217

102.10

1.217

99.10

0.267

101.95

1.267

98.95

0.317

101.79

1.317

98.80

0.367

101.64

1.367

98.66

0.417

101.49

1.417

98.51

0.467

101.34

1.467

98.36

0.517

101.19

1.517

98.22

0.567

101.04

1.567

98.07

0.617

100.88

1.617

97.93

0.667

100.73

1.667

97.78

0.717

100.58

1.717

97.64

0.767

100.43

1.767

97.49

0.817

100.28

1.817

97.35

0.867

100.13

1.867

97.21

0.917

99.99

1.917

97.06

0.967

99.84

1.967

96.92

1.017

99.69

2.017

96.78

1.067

99.54

2.067

96.64

1.117

99.39

2.117

96.49

1.167

99.24

2.167

96.35

 

* 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
9 October 2017

 

Last revision date: 9 October 2017
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