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

Press Releases

02 Oct 2018

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

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announces today (Tuesday) 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, 10 October 2018, for settlement on Thursday, 11 October 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 2 October 2018 is 100.47 with an annualised yield of 2.300%.

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, the 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
2 October 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, 10 October 2018

9:30 am to 10:30 am

Issue and Settlement Date

:

Thursday, 11 October 2018

Amount on Offer

:

HK$4.0 billion

Maturity              

:

3 years

Remaining Maturity

:

Approximately 2.82 years

Maturity Date

:

4 August 2021

Interest Rate    

:

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

Interest Payment Dates 

:

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 (11 October 2018) for the tender amount is HK$222.41 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 re-opening Government Bonds at tender for reference* only:-

Yield-to-Maturity

Price

Yield-to-Maturity

Price

1.300

103.21

2.300

100.47

1.350

103.07

2.350

100.33

1.400

102.93

2.400

100.20

1.450

102.79

2.450

100.07

1.500

102.65

2.500

99.93

1.550

102.51

2.550

99.80

1.600

102.37

2.600

99.67

1.650

102.24

2.650

99.53

1.700

102.10

2.700

99.40

1.750

101.96

2.750

99.27

1.800

101.82

2.800

99.14

1.850

101.69

2.850

99.00

1.900

101.55

2.900

98.87

1.950

101.41

2.950

98.74

2.000

101.28

3.000

98.61

2.050

101.14

3.050

98.48

2.100

101.01

3.100

98.35

2.150

100.87

3.150

98.22

2.200

100.74

3.200

98.09

2.250

100.60

3.250

97.96

2.300

100.47

3.300

97.83

 

* 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
2 October 2018

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Last revision date : 02 October 2018