Hong Kong Monetary Authority - Tender results of the 3-year Government Bonds under the Institutional Bond Issuance Programme

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09 Apr 2014

Tender results of the 3-year Government Bonds under the Institutional Bond Issuance Programme

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announces today (Wednesday) that tender for a 3-year Government Bond (issue number 03GB1704) under the Institutional Bond Issuance Programme was held today.

A total of HK$3.0 billion 3-year Government Bonds were offered today. A total of HK$9.671 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 3.22. The average price accepted is 99.78, implying an annualised yield of 1.098%.

Hong Kong Monetary Authority
9 April 2014

HKSAR GOVERNMENT
INSTITUTIONAL BOND ISSUANCE PROGRAMME
GOVERNMENT BOND TENDER RESULTS
_________________________________________________________________

Tender results of 3-year Government Bonds under the Institutional Bond Issuance Programme:-

Tender Date	:	9 April 2014
Issue Number	:	03GB1704
Stock Code	:	4220 (HKGB 1.02 1704)
Issue and Settlement Date	:	10 April 2014
Tenor	:	3-year
Maturity Date	:	10 April 2017
Coupon Rate	:	1.02%

Amount Applied	:	HK$9.671 billion
Amount Allotted	:	HK$3.0 billion
Bid-to-Cover Ratio*	:	3.22
Average Price Accepted (Yield)	:	99.78 (1.098%)
Lowest Price Accepted (Yield)	:	99.68 (1.132%)
Pro-rata Ratio	:	About 12%
Average Tender Price (Yield)	:	99.62 (1.152%)

* Calculated as the amount of bonds applied for over the amount of bonds issued.

Hong Kong Monetary Authority
9 April 2014

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