Tender for the re-opening of 15-year Government Bonds under the Institutional Bond Issuance Programme to be held on September 11

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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), announces today (September 2) that a tender of 15-year Government Bonds (Bonds) through the re-opening of existing 15-year Government Bond issue 15GB3403 under the Institutional Bond Issuance Programme will be held on Wednesday, September 11, 2019, for settlement on Thursday, September 12, 2019.
 
     An additional amount of HK$0.8 billion of the outstanding 15-year Bonds (issue no. 15GB3403) will be on offer. The Bonds will mature on March 7, 2034 and will carry interest at the rate of 2.02 per cent per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on September 2, 2019 is 110.24 with an annualised yield of 1.251 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
—————————————————————————————-
     Tender information of re-opening of 15-year Government Bonds under the Institutional Bond Issuance Programme:
 

Issue Number : 15GB3403 (Re-open)
 
Stock code : 4237 (HKGB 2.02 3403)
 
Tender Date and Time : Wednesday, September 11, 2019
9.30am to 10.30am
 
Issue and Settlement Date for tender amount
 
: Thursday, September 12, 2019
Amount on Offer
 
: HK$0.8 billion
Maturity
 
: 15 years
Remaining Maturity : Approximately 14.49 years
 
Maturity Date : March 7, 2034
 
Interest Rate : 2.02 per cent p.a. payable semi-annually in arrears
 
Interest Payment Dates  : March 9, 2020
September 7, 2020
March 8, 2021
September 7, 2021
March 7, 2022
September 7, 2022
March 7, 2023
September 7, 2023
March 7, 2024
September 9, 2024
March 7, 2025
September 8, 2025
March 9, 2026
September 7, 2026
March 8, 2027
September 7, 2027
March 7, 2028
September 7, 2028
March 7, 2029
September 7, 2029
March 7, 2030
September 9, 2030
March 7, 2031
September 8, 2031
March 8, 2032
September 7, 2032
March 7, 2033
September 7, 2033
March 7, 2034
 
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 (September 12, 2019) for the tender amount is HK$8.30 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 15GB3403 (Stock code: 4237) 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
0.251 125.15 1.251 110.21
0.301 124.35 1.301 109.52
0.351 123.56 1.351 108.84
0.401 122.77 1.401 108.16
0.451 121.99 1.451 107.48
0.501 121.21 1.501 106.81
0.551 120.44 1.551 106.14
0.601 119.67 1.601 105.48
0.651 118.91 1.651 104.83
0.701 118.16 1.701 104.17
0.751 117.41 1.751 103.53
0.801 116.67 1.801 102.89
0.851 115.93 1.851 102.25
0.901 115.19 1.901 101.61
0.951 114.47 1.951 100.99
1.001 113.75 2.001 100.36
1.051 113.03 2.051 99.74
1.101 112.32 2.101 99.13
1.151 111.61 2.151 98.52
1.201 110.91 2.201 97.91
1.251 110.21 2.251 97.31

 
* 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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