Tender for the re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme to be held on January 17


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), announces today (January 8) that a tender of 10-yearGovernment Bonds (Bonds) through the re-opening of existing 10-year Government Bond issue 10GB2706 under the Institutional Bond Issuance Programme will be held on January 17 (Wednesday) for settlement on January 18 (Thursday).
 
     An additional amount of HK$1.2 billion of the outstanding 10-year Bonds (issue no. 10GB2706) will be on offer.  The Bonds will mature on June 29, 2027 and will carry interest at the rate of 1.25% per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on January 8, 2018 is 94.77 with an annualised yield of 1.864%.

     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 Bond Issuance Programme Tender Information
-----------------------------------------------------------------------------------------------------
Tender information of re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme:
 
Issue Number
 
:
 
10GB2706 (Re-open)
 
Stock code
 
:
 
4235 (HKGB 1.25 2706)
 
Tender Date and Time
 
:
 
January 17, 2018 (Wednesday)
9.30am to 10.30am
 
Issue and Settlement Date for tender amount
 
:
 
January 18, 2018 (Thursday)
 
Amount on Offer
 
:
 
HK$1.2 billion
 
Maturity
 
:
 
10 years
 
Remaining Maturity
 
:
 
Approximately 9.45 years
 
Maturity Date
 
:
 
June 29, 2027
 
Interest Rate
 
:
 
1.25% p.a. payable semi-annually in arrears
 
Interest Payment Dates : June 29, 2018
December 31, 2018
June 28, 2019
December 30, 2019
June 29, 2020
December 29, 2020
June 29, 2021
December 29, 2021
June 29, 2022
December 29, 2022
June 29, 2023
December 29, 2023
June 28, 2024
December 30, 2024
June 30, 2025
December 29, 2025
June 29, 2026
December 29, 2026
June 29, 2027
 
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 (January 18, 2018) for the tender amount is HK$34.25 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 10GB2706 (Stock code: 4235) 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
0.864 103.51 1.864 94.78
0.914 103.05 1.914 94.36
0.964 102.60 1.964 93.95
1.014 102.14 2.014 93.54
1.064 101.69 2.064 93.13
1.114 101.24 2.114 92.73
1.164 100.80 2.164 92.32
1.214 100.35 2.214 91.92
1.264 99.91 2.264 91.52
1.314 99.47 2.314 91.12
1.364 99.03 2.364 90.73
1.414 98.60 2.414 90.34
1.464 98.16 2.464 89.94
1.514 97.73 2.514 89.55
1.564 97.30 2.564 89.17
1.614 96.88 2.614 88.78
1.664 96.45 2.664 88.40
1.714 96.03 2.714 88.01
1.764 95.61 2.764 87.63
1.814 95.19 2.814 87.26
1.864 94.78 2.864 86.88
 
* 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: 2018-01-08

Limited copyright is granted for you to use and/or republish any story on this site for any legitimate media purpose as long as you reference 7thSpace and any source mentioned in the story above. Please make sure to read our disclaimer prior to contacting 7thSpace Interactive. To contact our editors, visit our online helpdesk. If you wish submit your own press release, click here.

Discussions




Custom Search



Username
Password










© 2018 7thSpace Interactive
All Rights Reserved - About | Disclaimer | Helpdesk