Tender results of the re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme

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