Tender of one-year HONIA-indexed Floating Rate Notes under Institutional Bond Issuance Programme to be held on August 14
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 (August 5) that a tender of one-year HONIA-indexed Floating Rate Notes (Notes) under the Institutional Bond Issuance Programme will be held on Wednesday, August 14, 2024, for settlement on Thursday, August 15, 2024.
A total of HK$1.5 billion one-year Notes will be tendered. The Notes will mature on August 15, 2025 and will carry interest indexed to the Hong Kong Dollar Overnight Index Average (HONIA), payable quarterly in arrears.
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 Notes 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 one-year HONIA-indexed Floating Rate Notes under the Institutional Bond Issuance Programme:
| Issue Number | : | 01GH2508 |
| Stock Code | : | 4282 (HKGB FRN 2508) |
| Tender Date and Time | : | Wednesday, August 14, 2024 9.30am to 10.30am |
| Issue and Settlement Date for Tender Amount | : | Thursday, August 15, 2024 |
| Amount on Offer | : | HK$1.5 billion |
| Issue Price | : | At par |
| Maturity | : | 1 year |
| Maturity Date | : | August 15, 2025 |
| Interest Rate | : | Indexed to the sum of the annualised compounded average of daily HONIA in each interest period and the highest accepted spread at tender, subject to a minimum of 0 per cent per interest period. Details on calculation of interest rate are available at the Information Memorandum on the Hong Kong Government Bonds website at www.hkgb.gov.hk. |
| Interest Period End Dates | : | November 15, 2024 February 17, 2025 May 15, 2025 August 15, 2025 |
| Interest Payment Dates | : | November 19, 2024 February 19, 2025 May 19, 2025 August 19, 2025 |
| 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 Notes must be submitted through a Primary Dealer on the current published list. |
| Other Details | : | Please see Information Memorandum available on the Hong Kong Government Bonds website at www.hkgb.gov.hk or approach Primary Dealers. |
| Expected Listing Date | : | August 16, 2024 |