Tender for the re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme to be held on Wednesday, 6 May 2015
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 today (Thursday) that a tender of 10-year Government Bonds (Bonds) through the re-opening of existing 10-year Government Bond issue 10GB2408 under the Institutional Bond Issuance Programme will be held on Wednesday, 6 May 2015, for settlement on Thursday, 7 May 2015.
An additional amount of HK$1.5 billion of the outstanding 10-year Bonds (issue no. 10GB2408) will be on offer. The Bonds will mature on 7 August 2024 and will carry interest at the rate of 2.22% per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on 23 April 2015 is 105.56 with an annualised yield of 1.582%.
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 http://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
Hong Kong Monetary Authority
23 April 2015
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 |
: |
10GB2408 (Re-open) |
Stock code |
: |
4221 (HKGB 2.22 2408) |
Tender Date and Time |
: |
Wednesday, 6 May 2015 |
Issue and Settlement Date for tender amount |
: |
Thursday, 7 May 2015 |
Amount on Offer |
: |
HK$1.5 billion |
Maturity |
: |
10 years |
Remaining Maturity |
: |
Approximately 9.26 years |
Maturity Date |
: |
7 August 2024 |
Interest Rate |
: |
2.22% p.a. payable semi-annually in arrears |
Interest Payment Dates |
: |
7 August 2015 |
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 (7 May 2015) for the tender amount is HK$264.58 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 http://www.hkgb.gov.hk or approach Primary Dealers. |
Expected commencement date of dealing on |
: |
The tender amount is fully fungible with the existing 10GB2408 (Stock code: 4221) 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
0.582
113.98
1.582
105.25
0.632
113.52
1.632
104.84
0.682
113.07
1.682
104.42
0.732
112.62
1.732
104.01
0.782
112.17
1.782
103.60
0.832
111.72
1.832
103.19
0.882
111.27
1.882
102.79
0.932
110.83
1.932
102.38
0.982
110.39
1.982
101.98
1.032
109.95
2.032
101.58
1.082
109.51
2.082
101.18
1.132
109.08
2.132
100.79
1.182
108.64
2.182
100.39
1.232
108.21
2.232
100.00
1.282
107.78
2.282
99.61
1.332
107.36
2.332
99.22
1.382
106.93
2.382
98.83
1.432
106.51
2.432
98.45
1.482
106.09
2.482
98.06
1.532
105.67
2.532
97.68
1.582
105.25
2.582
97.30
* 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.
Hong Kong Monetary Authority
23 April 2015