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Press Releases

Tender for the re-opening of 10-Year Government Bonds
under the Institutional Bond Issuance Programme
to be held on Wednesday, 18 April 2018

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announces today (Wednesday) that a tender of 3-year Government Bonds (Bonds) through the re-opening of existing 10-year Government Bond issue 10GB2108 under the Institutional Bond Issuance Programme will be held on Wednesday, 18 April 2018, for settlement on Thursday, 19 April 2018.

An additional amount of HK$4.0 billion of the outstanding 10-Year Bonds (issue no. 10GB2108) will be on offer. The Bonds will mature on 4 August 2021 and will carry interest at the rate of 2.46% per annum payable semi-annually in arrears. The Bonds Fixings on 11 April 2018 is 102.65 with an annualised yield of 1.644%.

Under the Institutional Bond Issuance Programme, tender is open only to Recognized Dealers which are appointed as Primary Dealers. Any tender applications for the Bonds must be submitted through a Primary Dealer 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 April 2018


 

HKSAR GOVERNMENT
INSTITUTIONAL BOND ISSUANCE PROGRAMME
TENDER INFORMATION
_________________________________________________________________

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

Issue Number

:

10GB2108 (Re-open)

Stock code

:

4209 (HKGB 2.46 2108)

Tender Date and Time

:

Wednesday, 18 April 2018

9:30 am to 10:30 am

Issue and Settlement Date

:

Thursday, 19 April 2018

Amount on Offer

:

HK$4.0 billion

Maturity              

:

3 years

Remaining Maturity

 

Approximately 3.30 years

Maturity Date

:

4 August 2021

Interest Rate    

:

2.46% p.a., payable semi-annually in arrears

Interest Payment Dates 

:

6 August 2018
4 February 2019
5 August 2019
4 February 2020
4 August 2020
4 February 2021
4 August 2021

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 April 2018) for the tender amount is HK$246.00 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 10GB2108 (Stock code: 4209) listed on the Stock Exchange of Hong Kong.

 

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

Yield-to-Maturity

Price

Yield-to-Maturity

Price

0.644

105.92

1.644

102.63

0.694

105.75

1.694

102.47

0.744

105.58

1.744

102.31

0.794

105.42

1.794

102.15

0.844

105.25

1.844

101.99

0.894

105.08

1.894

101.83

0.944

104.92

1.944

101.67

0.994

104.75

1.994

101.51

1.044

104.59

2.044

101.35

1.094

104.42

2.094

101.19

1.144

104.26

2.144

101.04

1.194

104.09

2.194

100.88

1.244

103.93

2.244

100.72

1.294

103.76

2.294

100.56

1.344

103.60

2.344

100.41

1.394

103.44

2.394

100.25

1.444

103.28

2.444

100.10

1.494

103.11

2.494

99.94

1.544

102.95

2.544

99.78

1.594

102.79

2.594

99.63

1.644

102.63

2.644

99.47

 

* 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 April 2018

Last revision date: 11 April 2018
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