Tender for the re-opening of 15-year Government Bonds under the Institutional Bond Issuance Programme to be held on Wednesday, 11 September 2019
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 (Monday) 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, 11 September 2019, for settlement on Thursday, 12 September 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 7 March 2034 and will carry interest at the rate of 2.02% per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on 2 September 2019 is 110.24 with an annualised yield of 1.251%.
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, Government Bond Programme’s website, the Reuters screen (HKGBINDEX), and Bloomberg (GBHK <GO>) not later than 3:00 pm on the tender day.
Hong Kong Monetary Authority
2 September 2019
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, 11 September 2019 |
Issue and Settlement Date for tender amount |
: |
Thursday, 12 September 2019 |
Amount on Offer |
: |
HK$0.8 billion |
Maturity |
: |
15 years |
Remaining Maturity |
: |
Approximately 14.49 years |
Maturity Date |
: |
7 March 2034 |
Interest Rate |
: |
2.02% p.a. payable semi-annually in arrears |
Interest Payment Dates |
: |
9 March 2020 |
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 (12 September 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 http://www.hkgb.gov.hk or approach Primary Dealers. |
Expected commencement date of dealing on |
: |
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.
Hong Kong Monetary Authority
2 September 2019