Tender for the re-opening of 15-year Government Bonds under the Institutional Bond Issuance Programme to be held on Wednesday, 2 March 2022

Press Releases

21 Feb 2022

Tender for the re-opening of 15-year Government Bonds under the Institutional Bond Issuance Programme to be held on Wednesday, 2 March 2022

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (21 February) that a tender of 15-year Government Bonds (Bonds) through the re-opening of existing 15-year Government Bond issue 15GB3603 under the Institutional Bond Issuance Programme will be held on Wednesday, 2 March 2022, for settlement on Thursday, 3 March 2022.

An additional amount of HK$0.8 billion of the outstanding 15-year Bonds (issue no. 15GB3603) will be on offer. The Bonds will mature on 4 March 2036 and will carry interest at the rate of 1.59% per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on 21 February 2022 is 95.95 with an annualised yield of 1.931%.

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 Bonds 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
21 February 2022


 

HKSAR GOVERNMENT
INSTITUTIONAL BOND ISSUANCE PROGRAMME
TENDER INFORMATION
_________________________________________________________________

Tender information of re-opening of 15-year Government Bonds under the Institutional Bond Issuance Programme:-

Issue Number

:

15GB3603 (Re-open)

Stock code

:

4244 (HKGB 1.59 3603)

Tender Date and Time

:

Wednesday, 2 March 2022

9:30 am to 10:30 am

Issue and Settlement Date for tender amount

:

Thursday, 3 March 2022

Amount on Offer

:

HK$0.8 billion

Maturity              

:

15 years

Remaining Maturity 

:

Approximately 14.01 years

Maturity Date

:

4 March 2036

Interest Rate    

:

1.59% p.a. payable semi-annually in arrears

Interest Payment Dates 

:

4 March 2022

5 September 2022

6 March 2023

4 September 2023

4 March 2024

4 September 2024

4 March 2025

4 September 2025

4 March 2026

4 September 2026

4 March 2027

6 September 2027

6 March 2028

4 September 2028

5 March 2029

4 September 2029

4 March 2030

4 September 2030

4 March 2031

4 September 2031

4 March 2032

6 September 2032

4 March 2033

5 September 2033

6 March 2034

4 September 2034

5 March 2035

4 September 2035

4 March 2036

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 (3 March 2022) for the tender amount is HK$387.70 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 https://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 15GB3603 (Stock code: 4244) 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

0.931

108.66

1.931

95.94

0.981

107.98

1.981

95.35

1.031

107.31

2.031

94.77

1.081

106.64

2.081

94.19

1.131

105.97

2.131

93.61

1.181

105.31

2.181

93.04

1.231

104.66

2.231

92.47

1.281

104.00

2.281

91.90

1.331

103.36

2.331

91.34

1.381

102.71

2.381

90.78

1.431

102.08

2.431

90.23

1.481

101.44

2.481

89.68

1.531

100.81

2.531

89.13

1.581

100.19

2.581

88.59

1.631

99.57

2.631

88.05

1.681

98.96

2.681

87.52

1.731

98.34

2.731

86.99

1.781

97.74

2.781

86.46

1.831

97.13

2.831

85.94

1.881

96.54

2.881

85.42

1.931

95.94

2.931

84.91

 

* 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
21 February 2022

Latest Press Releases
Last revision date : 21 February 2022