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