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

Press Releases

14 May 2014

Tender results of the re-opening of 10-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 that a switch tender of 10-year Government Bonds through the re-opening of existing 10-year Government Bond issue 10GB2301  under the Institutional Bond Issuance Programme was held today (Wednesday). 

A total of HK$0.8 billion 10-year Government Bonds were offered today and the same nominal amount of another Government Bond issue 10GB2001 was early redeemed.  A total of HK$2.262 billion tender applications were received.  The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 2.83.  The average price accepted is 89.85, implying an annualised yield of 2.418%. 

 

Hong Kong Monetary Authority
14 May 2014

 

HKSAR GOVERNMENT
INSTITUTIONAL BOND ISSUANCE PROGRAMME
GOVERNMENT BOND TENDER RESULTS 
_________________________________________________________________ 

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

Tender Date

:

14 May 2014

Issue Number

:

10GB2301 (Re-open)

Stock Code

:

4215 (HKGB 1.10 2301)

Issue and Settlement Date

:

15 May 2014

Tenor

:

10-year

Maturity Date

:

17 January 2023

Coupon Rate

:

1.10%

Bond for Early Redemption

:

10GB2001 (Stock Code: 4203)

Amount Applied

:

HK$2.262 billion

Amount Allotted

:

HK$0.8 billion

Amount for Early Redemption

:

HK$0.8 billion

Bid-to-Cover Ratio*

:

2.83 

Average Price Accepted (Yield)

:

89.85 (2.418%)

Lowest Price Accepted (Yield)

:

89.45 (2.473%)

Pro-rata Ratio

:

About 8%

Average Tender Price (Yield)

:

89.26 (2.499%)


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

 

Hong Kong Monetary Authority
14 May 2014

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Last revision date : 14 May 2014