Tender for the re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme to be held on Wednesday, 29 November 2023
The Hong Kong Monetary Authority (HKMA), as representative of the Hong
Kong Special Administrative Region Government (HKSAR Government),
announced today (20 November) that a tender of 5-year Government Bonds
(Bonds) through the re-opening of existing 10-year Government Bond
issue 10GB2706 under the Institutional Bond Issuance Programme will be
held on Wednesday, 29 November 2023, for settlement on Thursday, 30
November 2023.
An additional amount of HK$3. 0 billion of the
outstanding 10-year Bonds (issue no. 10GB2706) will be on offer. The
Bonds will mature on 29 June 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 20 November 2023 are 91. 58 with an
annualised yield of 3. 804%.
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 Hong Kong
Government Bonds website at https://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
Hong Kong Government Bonds website, the Refinitiv screen (HKGBINDEX),
and Bloomberg (GBHK ) not later than 3:00 pm on the tender day.
Hong Kong Monetary Authority 20 November 2023
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
:
Wednesday, 29 November 2023
9:30 am to 10:30
am
Issue and Settlement Date for Tender Amount
:
Thursday, 30 November 2023
Amount on Offer
:
HK$3. 0 billion
Maturity
:
5 years
Remaining Maturity
:
Approximately 3. 58 years
Maturity Date
:
29 June 2027
Interest Rate
:
1.
25% p. a. payable semi-annually in arrears
Interest Payment
Dates
:
29 December 2023
28 June 2024
30 December 2024
30 June 2025
29 December 2025
29 June 2026
29 December 2026
29 June
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
(30 November 2023) for the tender amount is HK$263. 70 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 https://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 Government Bonds at tender (for reference only*):
Yield-to-
Maturity
Price
Yield-to-Maturity
Price
2. 804
94. 81
3. 804
91. 64
2. 854
94. 65
3. 854
91. 49
2. 904
94. 48
3. 904
91. 33
2. 954
94. 32
3. 954
91. 18
3. 004
94. 16
4. 004
91. 03
3. 054
94. 00
4. 054
90. 87
3. 104
93. 84
4. 104
90. 72
3. 154
93. 68
4. 154
90. 57
3. 204
93. 52
4. 204
90. 41
3. 254
93. 37
4. 254
90. 26
3. 304
93. 21
4. 304
90. 11
3. 354
93. 05
4. 354
89. 96
3. 404
92. 89
4. 404
89. 81
3. 454
92. 73
4. 454
89. 66
3. 504
92. 58
4. 504
89. 51
3. 554
92. 42
4. 554
89. 36
3. 604
92. 26
4. 604
89. 21
3. 654
92. 11
4. 654
89. 06
3. 704
91. 95
4. 704
88. 91
3. 754
91. 80
4. 754
88. 76
3. 804
91. 64
4. 804
88. 61
* 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 20 November 2023