Tender for re-opening of 10-year Government Bonds under Institutional Bond Issuance Programme to be held on October 16, 2019

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announces today (October 8) that a tender of 3-year Government Bonds (Bonds) through the re-opening of existing 10-year Government Bond issue 10GB2301 under the Institutional Bond Issuance Programme will be held on October 16, 2019 (Wednesday), for settlement on October 17, 2019 (Thursday).
 
     An additional amount of HK$4.0 billion of the outstanding 10-year Bonds (issue no. 10GB2301) will be on offer. The Bonds will mature on January 17, 2023 and will carry interest at the rate of 1.10 per cent per annum payable semi-annually in arrears.  The Bonds Fixings on October 8, 2019 is 98.88 with an annualised yield of 1.457 per cent.
 
     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 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 Reuters screen (HKGBINDEX), and Bloomberg (GBHK <GO>) not later than 3pm on the tender day.
 
HKSAR Government Institutional Bond Issuance Programme tender information
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     Tender information of re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme:
 

Issue Number : 10GB2301 (Re-open)
 
Stock code : 4215 (HKGB 1.10 2301)
 
Tender Date and Time : October 16, 2019 (Wednesday)
9.30am to 10.30am
 
Issue and Settlement Date for tender amount
 		 : October 17, 2019 (Thursday)
Amount on Offer
 		 : HK$4.0 billion
Maturity              
 		 : 10 years
Remaining Maturity : Approximately 3.25 years
 
Maturity Date : January 17, 2023
 
Interest Rate     : 1.10% p.a. payable semi-annually in arrears
 
Interest Payment Dates  : January 17, 2020
July 17, 2020
January 18, 2021
July 19, 2021
January 17, 2022
July 18, 2022
January 17, 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 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 (October 17, 2019) for the tender amount is HK$138.63 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 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 10GB2301 (Stock code: 4215) 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
0.457 102.07 1.457 98.89
0.507 101.91 1.507 98.73
0.557 101.75 1.557 98.58
0.607 101.59 1.607 98.42
0.657 101.42 1.657 98.27
0.707 101.26 1.707 98.11
0.757 101.10 1.757 97.96
0.807 100.94 1.807 97.80
0.857 100.78 1.857 97.65
0.907 100.62 1.907 97.50
0.957 100.46 1.957 97.34
1.007 100.30 2.007 97.19
1.057 100.15 2.057 97.04
1.107 99.99 2.107 96.89
1.157 99.83 2.157 96.74
1.207 99.67 2.207 96.58
1.257 99.51 2.257 96.43
1.307 99.36 2.307 96.28
1.357 99.20 2.357 96.13
1.407 99.04 2.407 95.98
1.457 98.89 2.457 95.83

 
* 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.