Tender for re-opening of 5-year Government Bonds under Institutional Bond Issuance Programme to be held on March 11
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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 today (March 2) that a tender of 3-year Government Bonds (Bonds) through the re-opening of existing 5-year Government Bond issue 05GB1802 under the Institutional Bond Issuance Programme will be held on March 11 (Wednesday), for settlement on March 12 (Thursday).

     An additional amount of HK$4.4 billion of the outstanding 5-year Bonds (issue no. 05GB1802) will be on offer. The Bonds will mature on February 5, 2018 and will carry interest at the rate of 0.61% per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on March 2, 2015 is 99.38 with an annualised yield of 0.828%.

     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 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
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Tender information of re-opening of 5-year Government Bonds under the Institutional Bond Issuance Programme:

Issue Number           : 05GB1802 (Re-open)

Stock code             : 4216 (HKGB 0.61 1802)

Tender Date and Time   : March 11, 2015 (Wednesday)
                         9.30am to 10.30am

Issue and Settlement   : March 12, 2015 (Thursday)
Date for tender
amount

Amount on Offer        : HK$4.4 billion

Maturity               : 3 years

Remaining Maturity     : Approximately 2.91 years

Maturity Date          : February 5, 2018

Interest Rate          : 0.61% p.a. payable
                         semi-annually in arrears

Interest Payment Dates : August 5, 2015
                         February 5, 2016
                         August 5, 2016
                         February 6, 2017
                         August 7, 2017
                         February 5, 2018

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 (March 12, 2015)
                          for the tender amount
                          is HK$29.25 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
                          www.hkgb.gov.hk or
                          approach Primary Dealers.

Expected commencement   : The tender amount is
date of dealing on        fully fungible with the
the Stock Exchange        existing 05GB1802
of Hong Kong Limited      (Stock code: 4216)
                          listed on the Stock
                          Exchange of Hong Kong.

Price/Yield Table of the re-opening Government Bonds at tender for reference* only:

Yield-to-       Price      Yield-to-       Price
Maturity                   Maturity
  -0.172        102.28       0.828         99.38
  -0.122        102.13       0.878         99.24
  -0.072        101.98       0.928         99.10
  -0.022        101.84       0.978         98.96
   0.028        101.69       1.028         98.81
   0.078        101.54       1.078         98.67
   0.128        101.40       1.128         98.53
   0.178        101.25       1.178         98.39
   0.228        101.11       1.228         98.25
   0.278        100.96       1.278         98.11
   0.328        100.82       1.328         97.97
   0.378        100.67       1.378         97.83
   0.428        100.53       1.428         97.70
   0.478        100.38       1.478         97.56
   0.528        100.24       1.528         97.42
   0.578        100.09       1.578         97.28
   0.628         99.95       1.628         97.14
   0.678         99.81       1.678         97.00
   0.728         99.67       1.728         96.87
   0.778         99.52       1.778         96.73
   0.828         99.38       1.828         96.59

* 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.

Ends/Monday, March 2, 2015
Issued at HKT 17:45

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