Tender results of the re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme
The following is issued by the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announces that a switch tender of 10-year Government Bonds through the re-opening of existing 10-year Government Bond issue 10GB2301 under the Institutional Bond Issuance Programme was held today (Wednesday).
A total of HK$0.8 billion 10-year Government Bonds were offered today and the same nominal amount of another Government Bond issue 10GB2001 was early redeemed. A total of HK$2.262 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 2.83. The average price accepted is 89.85, implying an annualised yield of 2.418%.
Hong Kong Monetary Authority
14 May 2014
HKSAR GOVERNMENT INSTITUTIONAL BOND ISSUANCE PROGRAMME GOVERNMENT BOND TENDER RESULTS
Tender results of re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme:-
| Tender Date | : | 14 May 2014 |
| Issue Number | : | 10GB2301 (Re-open) |
| Stock Code | : | 4215 (HKGB 1.10 2301) |
| Issue and Settlement Date | : | 15 May 2014 |
| Tenor | : | 10-year |
| Maturity Date | : | 17 January 2023 |
| Coupon Rate | : | 1.10% |
| Bond for Early Redemption | : | 10GB2001 (Stock Code: 4203) |
| Amount Applied | : | HK$2.262 billion |
| Amount Allotted | : | HK$0.8 billion |
| Amount for Early Redemption | : | HK$0.8 billion |
| Bid-to-Cover Ratio* | : | 2.83 |
| Average Price Accepted (Yield) | : | 89.85 (2.418%) |
| Lowest Price Accepted (Yield) | : | 89.45 (2.473%) |
| Pro-rata Ratio | : | About 8% |
| Average Tender Price (Yield) | : | 89.26 (2.499%) |
* Calculated as the amount of bonds applied for over the amount of bonds issued.
Hong Kong Monetary Authority
14 May 2014