Tender for the re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme to be held on November 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), announces today (November 19) that a tender of 5-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 November 28 (Wednesday), for settlement on November 29 (Thursday).
 
     An additional amount of HK$2.5 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 November 19, 2018 is 95.76 with an annualised yield of 2.183 per cent.
 
     Under the Institutional Bond Issuance Programme, tender is open only to Recognised 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
——————————————————————————————–

     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 : November 28, 2018 (Wednesday) 
9.30am to 10.30am
 
Issue and Settlement Date for tender amount
 		 : November 29, 2018 (Thursday) 
Amount on Offer
 		 : HK$2.5 billion
Maturity              
 		 : 10 years
Remaining Maturity : Approximately 4.14 years
 
Maturity Date : January 17, 2023
 
Interest Rate     : 1.10 per cent p.a. payable semi-annually in arrears
 
Interest Payment Dates  : January 17, 2019
July 17, 2019
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 (November 29, 2018) for the tender amount is HK$203.42 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
1.183 99.68 2.183 95.79
1.233 99.48 2.233 95.60
1.283 99.28 2.283 95.41
1.333 99.08 2.333 95.22
1.383 98.89 2.383 95.03
1.433 98.69 2.433 94.85
1.483 98.49 2.483 94.66
1.533 98.30 2.533 94.47
1.583 98.10 2.583 94.29
1.633 97.91 2.633 94.10
1.683 97.71 2.683 93.92
1.733 97.52 2.733 93.73
1.783 97.32 2.783 93.55
1.833 97.13 2.833 93.36
1.883 96.94 2.883 93.18
1.933 96.74 2.933 93.00
1.983 96.55 2.983 92.81
2.033 96.36 3.033 92.63
2.083 96.17 3.083 92.45
2.133 95.98 3.133 92.27
2.183 95.79 3.183 92.09

 
* 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.