The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (8 May) that a tender of 1-year HONIA-indexed Floating Rate Notes (Notes) under the Institutional Bond Issuance Programme will be held on Wednesday, 17 May 2023, for settlement on Thursday, 18 May 2023.
A total of HK$1.5 billion 1-year Notes will be tendered. The Notes will mature on 20 May 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
8 May 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 |
: |
01GH2405 |
---|---|---|
Stock Code |
: |
4266 (HKGB FRN 2405) |
Tender Date and Time |
: |
Wednesday, 17 May 2023 9:30 am to 10:30 am |
Issue and Settlement Date for Tender Amount |
: |
Thursday, 18 May 2023 |
Amount on Offer |
: |
HK$1.5 billion |
Issue Price |
: |
At par |
Maturity |
: |
1 year |
Maturity Date |
: |
20 May 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 August 2023 17 November 2023 16 February 2024 20 May 2024 |
Interest Payment Dates |
: |
22 August 2023 21 November 2023 20 February 2024 22 May 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 |
: |
19 May 2023 |
Hong Kong Monetary Authority
8 May 2023