Tender for the re-opening of 10-Year Government Bonds under the Institutional Bond Issuance Programme to be held on April 18


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 (April 11) that a tender of 3-year Government Bonds (Bonds) through the re-opening of existing 10-year Government Bond issue 10GB2108 under the Institutional Bond Issuance Programme will be held on Wednesday, April 18, for settlement on Thursday, April 19.
 
     An additional amount of HK$4.0 billion of the outstanding 10-Year Bonds (issue no. 10GB2108) will be on offer.  The Bonds will mature on August 4, 2021 and will carry interest at the rate of 2.46% per annum payable semi-annually in arrears.  The Bonds Fixings on April 11, 2018 is 102.65 with an annualised yield of 1.644%.

     Under the Institutional Bond Issuance Programme, tender is open only to Recognized Dealers which are appointed as Primary Dealers.  Any tender applications for the Bonds must be submitted through a Primary Dealer on the current published list, whichcan 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 : 10GB2108 (Re-open)
 
Stock code : 4209 (HKGB 2.46 2108)
 
Tender Date and Time : Wednesday, April 18, 2018
9.30am to 10.30am
 
Issue and Settlement Date
 
: Thursday, April 19, 2018
 
Amount on Offer
 
: HK$4.0 billion
Maturity              
 
: 3 years
Remaining Maturity
 
  Approximately 3.30 years
Maturity Date : August 4, 2021
 
Interest Rate  : 2.46% p.a ., payable semi-annually in arrears
 
Interest Payment Dates : August 6, 2018
February 4, 2019
August 5, 2019
February 4, 2020
August 4, 2020
February 4, 2021
August 4, 2021
 
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 (April 19, 2018) for the tender amount is  HK$246.00 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 10GB2108 (Stock code: 4209) 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
0.644 105.92 1.644 102.63
0.694 105.75 1.694 102.47
0.744 105.58 1.744 102.31
0.794 105.42 1.794 102.15
0.844 105.25 1.844 101.99
0.894 105.08 1.894 101.83
0.944 104.92 1.944 101.67
0.994 104.75 1.994 101.51
1.044 104.59 2.044 101.35
1.094 104.42 2.094 101.19
1.144 104.26 2.144 101.04
1.194 104.09 2.194 100.88
1.244 103.93 2.244 100.72
1.294 103.76 2.294 100.56
1.344 103.60 2.344 100.41
1.394 103.44 2.394 100.25
1.444 103.28 2.444 100.10
1.494 103.11 2.494 99.94
1.544 102.95 2.544 99.78
1.594 102.79 2.594 99.63
1.644 102.63 2.644 99.47
 
 
* 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: 2018-04-11

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