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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 that a switch tender of 10-year Government Bonds through the re-opening of existing 10-year Government Bond issue 10GB2301 under the Institutional Bond Issuance Programme was held today (May 14).
A total of HK$0.8 billion 10-year Government Bonds were offered today and the same nominal amount of another Government Bond issue 10GB2001 was early redeemed. A total of HK$2.262 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 2.83. The average price accepted is 89.85, implying an annualised yield of 2.418%.
HKSAR Government Institutional Bond Issuance Programme Government Bond tender results
Tender results of re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme:
Tender Date :May 14, 2014
Issue Number :10GB2301(Re-open)
Stock Code :4215(HKGB 1.10 2301)
Issue and Settlement Date :May 15, 2014
Tenor :10-year
Maturity Date :January 17, 2023
Coupon Rate :1.10%
Bond for Early Redemption :10GB2001
(Stock Code: 4203)
Amount Applied :HK$2.262 billion
Amount Allotted :HK$0.8 billion
Amount for Early Redemption :HK$0.8 billion
Bid-to-Cover Ratio* :2.83
Average Price Accepted (Yield):89.85 (2.418%)
Lowest Price Accepted (Yield) :89.45 (2.473%)
Pro-rata Ratio :About 8%
Average Tender Price (Yield) :89.26 (2.499%)
* Calculated as the amount of bonds applied for over the amount of bonds issued.
Ends/Wednesday, May 14, 2014
Issued at HKT 12:45
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