Tender for re-opening of 5-year Government Bonds under Institutional Bond Issuance Programme to be held on October 18, 2017 (Wednesday)

Hong Kong (HKSAR) - 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 (October 9) that a tender of 3-year Government Bonds (Bonds) through the re-opening of existing 5-year Government Bond issue 05GB2011 under the Institutional Bond Issuance Programme will be held on October 18, 2017 (Wednesday), for settlement on October 19, 2017 (Thursday).

     An additional amount of HK$4.0 billion of the outstanding 5-year Bonds (issue no. 05GB2011) will be on offer. The Bonds will mature on November 5, 2020 and will carry interest at the rate of 0.91% per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on October 9, 2017 is 99.24 with an annualised yield of 1.167%.

     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">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 <GO>) not later than 3pm on the tender day.

HKSAR Government Institutional Bond Issuance Programme Tender Information

     Tender information of re-opening of 5-year Government Bonds under the Institutional Bond Issuance Programme:
Issue Number : 05GB2011 (Re-open)
Stock code : 4229 (HKGB 0.91 2011)
Tender Date and Time : October 18, 2017 (Wednesday)
9.30am to 10.30am
Issue and Settlement Date for tender amount
: October 19, 2017 (Thursday)
Amount on Offer
: HK$4.0 billion
: 3 years
Remaining Maturity : Approximately 3.05 years
Maturity Date : November 5, 2020
Interest Rate  : 0.91% p.a.

payable semi-annually in arrears
Interest Payment Dates : November 6, 2017
May 7, 2018
November 5, 2018
May 6, 2019
November 5, 2019
May 5, 2020
November 5, 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 (October 19, 2017) for the tender amount is HK$208.18 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" target="_blank">www.hkgb.gov.hk or approach Primary Dealers.
Expected commencement date of dealing on
the Stock Exchange
of Hong Kong Limited
: The tender amount is fully fungible with the existing 05GB2011 (Stock code: 4229) 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
0.167 102.25 1.167 99.24
0.217 102.10 1.217 99.10
0.267 101.95 1.267 98.95
0.317 101.79 1.317 98.80
0.367 101.64 1.367 98.66
0.417 101.49 1.417 98.51
0.467 101.34 1.467 98.36
0.517 101.19 1.517 98.22
0.567 101.04 1.567 98.07
0.617 100.88 1.617 97.93
0.667 100.73 1.667 97.78
0.717 100.58 1.717 97.64
0.767 100.43 1.767 97.49
0.817 100.28 1.817 97.35
0.867 100.13 1.867 97.21
0.917 99.99 1.917 97.06
0.967 99.84 1.967 96.92
1.017 99.69 2.017 96.78
1.067 99.54 2.067 96.64
1.117 99.39 2.117 96.49
1.167 99.24 2.167 96.35
* 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.

Published on: 2017-10-09

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