Tender for re-opening of 15-year Government Bonds under Institutional Bond Issuance Programme to be held on June 28
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 (June 16) that a tender of 15-year Government Bonds (Bonds) through the re-opening of existing 15-year Government Bond issue 15GB3801 under the Institutional Bond Issuance Programme will be held on June 28, 2023 (Wednesday), for settlement on June 29, 2023 (Thursday).
An additional amount of HK$0.5 billion of the outstanding 15-year Bonds (issue no. 15GB3801) will be on offer. The Bonds will mature on January 12, 2038, and will carry interest at the rate of 3.74 per cent per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on June 16, 2023, are 99.25 with an annualised yield of 3.848 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 Hong Kong Government Bonds 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 Hong Kong Government Bonds 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
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Tender information of re-opening of 15-year Government Bonds under the Institutional Bond Issuance Programme:
| Issue Number | : | 15GB3801 (Re-open) |
| Stock Code | : | 4258 (HKGB 3.74 3801) |
| Tender Date and Time | : | June 28, 2023 (Wednesday) 9.30am to 10.30am |
| Issue and Settlement Date for Tender Amount | : | June 29, 2023 (Thursday) |
| Amount on Offer | : | HK$0.5 billion |
| Maturity | : | 15 years |
| Remaining Maturity | : | Approximately 14.55 years |
| Maturity Date | : | January 12, 2038 |
| Interest Rate | : | 3.74 per cent p.a. payable semi-annually in arrears |
| Interest Payment Dates | : | July 12, 2023 January 12, 2024 July 12, 2024 January 13, 2025 July 14, 2025 January 12, 2026 July 13, 2026 January 12, 2027 July 12, 2027 January 12, 2028 July 12, 2028 January 12, 2029 July 12, 2029 January 14, 2030 July 12, 2030 January 13, 2031 July 14, 2031 January 12, 2032 July 12, 2032 January 12, 2033 July 12, 2033 January 12, 2034 July 12, 2034 January 12, 2035 July 12, 2035 January 14, 2036 July 14, 2036 January 12, 2037 July 13, 2037 January 12, 2038 |
| 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 (June 29, 2023) for the tender amount is HK$860.71 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 Hong Kong Government Bonds 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 15GB3801 (Stock code: 4258) 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 |
| 2.848 | 110.81 | 3.848 | 99.20 |
| 2.898 | 110.19 | 3.898 | 98.66 |
| 2.948 | 109.58 | 3.948 | 98.13 |
| 2.998 | 108.96 | 3.998 | 97.60 |
| 3.048 | 108.36 | 4.048 | 97.07 |
| 3.098 | 107.76 | 4.098 | 96.54 |
| 3.148 | 107.16 | 4.148 | 96.02 |
| 3.198 | 106.56 | 4.198 | 95.51 |
| 3.248 | 105.97 | 4.248 | 94.99 |
| 3.298 | 105.39 | 4.298 | 94.48 |
| 3.348 | 104.81 | 4.348 | 93.97 |
| 3.398 | 104.23 | 4.398 | 93.47 |
| 3.448 | 103.66 | 4.448 | 92.97 |
| 3.498 | 103.09 | 4.498 | 92.47 |
| 3.548 | 102.52 | 4.548 | 91.98 |
| 3.598 | 101.96 | 4.598 | 91.49 |
| 3.648 | 101.40 | 4.648 | 91.00 |
| 3.698 | 100.84 | 4.698 | 90.52 |
| 3.748 | 100.29 | 4.748 | 90.04 |
| 3.798 | 99.75 | 4.798 | 89.56 |
| 3.848 | 99.20 | 4.848 | 89.09 |
* 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.