Hong Kong Monetary Authority - Tender of 1-year HONIA-indexed Floating Rate Notes under the Institutional Bond Issuance Programme to be held on Wednesday, 17 August 2022

Press Releases

08 Aug 2022

Tender of 1-year HONIA-indexed Floating Rate Notes under the Institutional Bond Issuance Programme to be held on Wednesday, 17 August 2022

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (8 August) that a tender of 1-year HONIA-indexed Floating Rate Notes (Notes) under the Institutional Bond Issuance Programme will be held on Wednesday, 17 August 2022, for settlement on Thursday, 18 August 2022.

A total of HK$1.5 billion 1-year Notes will be tendered. The Notes will mature on 18 August 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 Hong Kong Government Bonds 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 Hong Kong Government Bonds website, the Refinitiv screen (HKGBINDEX), and Bloomberg (GBHK <GO>) not later than 3:00 pm on the tender day.

Hong Kong Monetary Authority
8 August 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	:	01GH2308
Stock Code	:	4256 (HKGB FRN 2308)
Tender Date and Time	:	Wednesday, 17 August 2022 9:30 am to 10:30 am
Issue and Settlement Date for Tender Amount	:	Thursday, 18 August 2022
Amount on Offer	:	HK$1.5 billion
Issue Price	:	At par
Maturity	:	1 year
Maturity Date	:	18 August 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 Hong Kong Government Bonds website at https://www.hkgb.gov.hk.
Interest Period End Dates	:	18 November 2022 17 February 2023 18 May 2023 18 August 2023
Interest Payment Dates	:	22 November 2022 21 February 2023 22 May 2023 22 August 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 Hong Kong Government Bonds website at https://www.hkgb.gov.hk or approach Primary Dealers.
Expected Listing Date	:	19 August 2022

Hong Kong Monetary Authority
8 August 2022

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