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Tender of 1-year HONIA-indexed Floating Rate Notes under the Institutional Bond Issuance Programme to be held on Wednesday, 15 February 2023

Press Releases

06 Feb 2023

Tender of 1-year HONIA-indexed Floating Rate Notes under the Institutional Bond Issuance Programme to be held on Wednesday, 15 February 2023

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (6 February) that a tender of 1-year HONIA-indexed Floating Rate Notes (Notes) under the Institutional Bond Issuance Programme will be held on Wednesday, 15 February 2023, for settlement on Thursday, 16 February 2023.

A total of HK$1.5 billion 1-year Notes will be tendered. The Notes will mature on 16 February 2024 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
6 February 2023

 

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

:

01GH2402

Stock Code

:

4265 (HKGB FRN 2402)

Tender Date and Time

:

Wednesday, 15 February 2023
9:30 am to 10:30 am

Issue and Settlement
Date for Tender Amount

:

Thursday, 16 February 2023

Amount on Offer

:

HK$1.5 billion

Issue Price

:

At par

Maturity

:

1 year

Maturity Date

:

16 February 2024

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 May 2023
18 August 2023
17 November 2023
16 February 2024

Interest Payment Dates

:

22 May 2023
22 August 2023
21 November 2023
20 February 2024

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

:

17 February 2023

 

Hong Kong Monetary Authority
6 February 2023

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Last revision date : 06 February 2023