Hong Kong Monetary Authority - Tender of 10-year Government Bonds under the Institutional Bond Issuance Programme to be held on Wednesday, 20 January 2016

Press Releases

11 Jan 2016

Tender of 10-year Government Bonds under the Institutional Bond Issuance Programme to be held on Wednesday, 20 January 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 10-year Government Bonds (Bonds) under the Institutional Bond Issuance Programme will be held on Wednesday, 20 January 2016, for settlement on Thursday, 21 January 2016.

A total of HK$1.8 billion 10-year Bonds will be tendered. The Bonds will mature on 21 January 2026 and will carry interest at the rate of 1.68% per annum payable semi-annually in arrears.

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, 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
11 January 2016

HKSAR GOVERNMENT
INSTITUTIONAL BOND ISSUANCE PROGRAMME
TENDER INFORMATION

Tender information of 10-year Government Bonds under the Institutional Bond Issuance Programme:-

Issue Number	:	10GB2601
Stock code	:	4230 (HKGB 1.68 2601)
Tender Date and Time	:	Wednesday, 20 January 2016 9:30 am to 10:30 am
Issue and Settlement Date	:	Thursday, 21 January 2016
Amount on Offer	:	HK$1.8 billion
Maturity	:	Ten years
Maturity Date	:	21 January 2026
Interest Rate	:	1.68% p.a., payable semi-annually in arrears
Interest Payment Dates	:	21 July 2016 23 January 2017 21 July 2017 22 January 2018 23 July 2018 21 January 2019 22 July 2019 21 January 2020 21 July 2020 21 January 2021 21 July 2021 21 January 2022 21 July 2022 25 January 2023 21 July 2023 22 January 2024 22 July 2024 21 January 2025 21 July 2025 21 January 2026
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.
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	:	22 January 2016

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

Yield-to-Maturity	Price	Yield-to-Maturity	Price
0.680	109.66	1.680	100.06
0.730	109.16	1.730	99.61
0.780	108.66	1.780	99.16
0.830	108.16	1.830	98.71
0.880	107.66	1.880	98.26
0.930	107.17	1.930	97.82
0.980	106.68	1.980	97.38
1.030	106.19	2.030	96.94
1.080	105.70	2.080	96.50
1.130	105.22	2.130	96.06
1.180	104.74	2.180	95.63
1.230	104.26	2.230	95.20
1.280	103.78	2.280	94.77
1.330	103.31	2.330	94.35
1.380	102.84	2.380	93.92
1.430	102.37	2.430	93.50
1.480	101.90	2.480	93.08
1.530	101.44	2.530	92.66
1.580	100.98	2.580	92.25
1.630	100.52	2.630	91.84
1.680	100.06	2.680	91.43

* 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
11 January 2016

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