Tender for re-opening of 5-year Government Bonds under the Institutional Bond Issuance Programme to be held on November 22, 2017

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 (November 13) that a tender of 5-year Government Bonds (Bonds) through the re-opening of existing 5-year Government Bond issue 05GB2205 under the Institutional Bond Issuance Programme will be held on November 22, 2017 (Wednesday), for settlement on November 23, 2017 (Thursday).

     An additional amount of HK$2.5 billion of the outstanding 5-year Bonds (issue no. 05GB2205) will be on offer. The Bonds will mature on May 18, 2022 and will carry interest at the rate of 1.16% per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on November 13, 2017 is99.22 with an annualised yield of 1.343%.

     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. " target="_blank">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 Bobd Issuance Programme Tender Information

     Tender information of re-opening of 5-year Government Bonds under the Institutional Bond Issuance Programme:
Issue number : 05GB2205 (Re-open)
Stock code : 4234 (HKGB 1.16 2205)
Tender date and time : November 22, 2017 (Wednesday)
9.30am to 10.30am
Issue and settlement date for tender amount
: November 23, 2017 (Thursday)
Amount on offer
: HK$2.5 billion
: 5 years
Remaining maturity : Approximately 4.48 years
Maturity date : May 18, 2022
Interest rate  : 1.16% p.a. payable semi-annually in arrears
Interest Payment Dates : May 18, 2018
November 19, 2018
May 20, 2019
November 18, 2019
May 18, 2020
November 18, 2020
May 18, 2021
November 18, 2021
May 18, 2022
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 (November 23, 2017) for the tender amount is HK$4.77 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 05GB2205 (Stock code: 4234) 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
0.343 103.64 1.343 99.23
0.393 103.41 1.393 99.01
0.443 103.18 1.443 98.80
0.493 102.96 1.493 98.58
0.543 102.73 1.543 98.37
0.593 102.51 1.593 98.16
0.643 102.29 1.643 97.95
0.693 102.06 1.693 97.74
0.743 101.84 1.743 97.53
0.793 101.62 1.793 97.32
0.843 101.40 1.843 97.11
0.893 101.18 1.893 96.90
0.943 100.96 1.943 96.69
0.993 100.74 1.993 96.48
1.043 100.52 2.043 96.28
1.093 100.31 2.093 96.07
1.143 100.09 2.143 95.86
1.193 99.87 2.193 95.66
1.243 99.66 2.243 95.45
1.293 99.44 2.293 95.25
1.343 99.23 2.343 95.05
* 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: 2017-11-13

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