Tender for re-opening of 15-year Government Bonds under Institutional Bond Issuance Programme to be held on January 12

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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), announced today (January 3) that a tender of 10-year Government Bonds (Bonds) through the re-opening of existing 15-year Government Bond issue 15GB3203 under the Institutional Bond Issuance Programme will be held on January 12 (Wednesday), for settlement on January 13 (Thursday).

     An additional amount of HK$1.5 billion of the outstanding 15-year Bonds (issue no. 15GB3203) will be on offer. The Bonds will mature on March 2, 2032 and will carry interest at the rate of 1.89 per cent per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on January 3 is 103.72 with an annualised yield of 1.501 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 Refinitiv screen (HKGBINDEX), and Bloomberg (GBHK <GO>) not later than 3pm on the tender day.

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 : 15GB3203 (Re-open)
Stock Code : 4232 (HKGB 1.89 3203)
Tender Date and Time : January 12, 2022 (Wednesday)
9.30am to 10.30am
Issue and Settlement Date for tender amount : January 13, 2022 (Thursday)
Amount on Offer : HK$1.5 billion
Maturity : 10 years
Remaining Maturity : Approximately 10.14 years
Maturity Date : March 2, 2032
Interest Rate : 1.89 per cent p.a. payable semi-annually in arrears
Interest Payment Dates  : March 2, 2022
September 2, 2022
March 2, 2023
September 4, 2023
March 4, 2024
September 2, 2024
March 3, 2025
September 2, 2025
March 2, 2026
September 2, 2026
March 2, 2027
September 2, 2027
March 2, 2028
September 4, 2028
March 2, 2029
September 3, 2029
March 4, 2030
September 2, 2030
March 3, 2031
September 2, 2031
March 2, 2032
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 (January 13, 2022) for the tender amount is HK$344.34 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 15GB3203 (Stock code: 4232) listed on the Stock Exchange of Hong Kong.

 
Price/Yield Table of the Government Bonds at tender for reference* only:

Yield-to-Maturity Price Yield-to-Maturity Price
0.501 113.72 1.501 103.70
0.551 113.19 1.551 103.22
0.601 112.67 1.601 102.75
0.651 112.14 1.651 102.29
0.701 111.63 1.701 101.82
0.751 111.11 1.751 101.36
0.801 110.60 1.801 100.89
0.851 110.09 1.851 100.44
0.901 109.58 1.901 99.98
0.951 109.07 1.951 99.53
1.001 108.57 2.001 99.08
1.051 108.07 2.051 98.63
1.101 107.58 2.101 98.18
1.151 107.08 2.151 97.74
1.201 106.59 2.201 97.29
1.251 106.10 2.251 96.85
1.301 105.62 2.301 96.42
1.351 105.13 2.351 95.98
1.401 104.65 2.401 95.55
1.451 104.17 2.451 95.12
1.501 103.70 2.501 94.69

 
* 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.

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