Tender of 1-year HONIA-indexed Floating Rate Notes under the Institutional Bond Issuance Programme to be held on Wednesday, 14 February 2024
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), announced today (1 February) that a tender of 1-year HONIA-indexed Floating Rate Notes (Notes) under the Institutional Bond Issuance Programme will be held on Wednesday, 14 February 2024, for settlement on Thursday, 15 February 2024.
A total of HK$1.5 billion 1-year Notes will be tendered. The Notes will mature on 17 February 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 https://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 3:00 pm on the tender day.
Hong Kong Monetary Authority
1 February 2024
HKSAR GOVERNMENT INSTITUTIONAL BOND ISSUANCE PROGRAMME TENDER INFORMATION
Tender information of 1-year HONIA-indexed Floating Rate Notes under the Institutional Bond Issuance Programme:
Issue Number |
: |
01GH2502 |
Stock code |
: |
4275 (HKGB FRN 2502) |
Tender Date and Time |
: |
Wednesday, 14 February 2024 |
Issue and Settlement Date for tender amount |
: |
Thursday, 15 February 2024 |
Amount on Offer |
: |
HK$1.5 billion |
Issue Price |
: |
At par |
Maturity |
: |
1 year |
Maturity Date |
: |
17 February 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 interest period. Details on calculation of interest rate are available at the Information Memorandum on the Hong Kong Government Bonds website at https://www.hkgb.gov.hk. |
Interest Period End Dates |
: |
15 May 2024 |
Interest Payment Dates |
: |
17 May 2024 |
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 https://www.hkgb.gov.hk or approach Primary Dealers. |
Expected Listing Date |
: |
16 February 2024 |
Hong Kong Monetary Authority
1 February 2024