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Tender of 1-year HONIA-indexed Floating Rate Notes under the Institutional Bond Issuance Programme to be held on Wednesday, 16 February 2022

Press Releases

07 Feb 2022

Tender of 1-year HONIA-indexed Floating Rate Notes under the Institutional Bond Issuance Programme to be held on Wednesday, 16 February 2022

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (7 February) that a tender of 1-year HONIA-indexed Floating Rate Notes (Notes) under the Institutional Bond Issuance Programme will be held on Wednesday, 16 February 2022, for settlement on Thursday, 17 February 2022.

A total of HK$1.0 billion 1-year Notes will be tendered. The Notes will mature on 17 February 2023 and will carry interest indexed to the Hong Kong Dollar Overnight Index Average (HONIA), payable quarterly 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 Notes 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 https://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 Refinitiv screen (HKGBINDEX), and Bloomberg (GBHK <GO>) not later than 3:00 pm on the tender day.

Hong Kong Monetary Authority
7 February 2022


 

HKSAR GOVERNMENT
INSTITUTIONAL BOND ISSUANCE PROGRAMME
TENDER INFORMATION
_________________________________________________________________

Tender information of 1-year HONIA-indexed Floating Rate Notes under the Institutional Bond Issuance Programme:-

Issue Number

:

01GH2302

Stock code

:

4251 (HKGB FRN 2302)

Tender Date and Time

:

Wednesday, 16 February 2022

9:30 am to 10:30 am

Issue and Settlement Date for tender amount

:

Thursday, 17 February 2022

Amount on Offer

:

HK$1.0 billion

Issue Price

:

At par

Maturity              

:

1 year

Maturity Date

:

17 February 2023

Interest Rate    

:

Indexed to the sum of the annualised compounded average of daily HONIA in each interest period and the highest accepted spread at tender, subject to a minimum of 0% per interest period. Details on calculation of interest rate are available at the Information Memorandum on the Government Bond Programme’s website at https://www.hkgb.gov.hk.

Interest Period End Dates

:

18 May 2022

18 August 2022

18 November 2022

17 February 2023

Interest Payment Dates 

:

20 May 2022

22 August 2022

22 November 2022

21 February 2023

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 Notes 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 https://www.hkgb.gov.hk or approach Primary Dealers.

Expected Listing Date

:

18 February 2022

 

Hong Kong Monetary Authority
7 February 2022

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Last revision date : 07 February 2022