Tender results of 5-year Government Bonds under 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 today (November 4) that tender for a 5-year Government Bond (issue number 05GB2011) under the Institutional Bond Issuance Programme was held today.

     A total of HK$3.0 billion 5-year Government Bonds were offered today. A total of HK$6.070 billion tender applications were received.  The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 2.02. The average price accepted is 98.37, implying an annualised yield of 1.252%.

HKSAR Government Institutional Bond Issuance Programme Government Bond tender results
------------------------------------------------------------

Tender results of 5-year Government Bonds under the Institutional Bond Issuance Programme:

Tender Date                    : November 4, 2015
Issue Number                   : 05GB2011
Stock Code                     : 4229 (HKGB 0.91 2011)
Issue and Settlement Date      : November 5, 2015
Tenor                          : 5-year
Maturity Date                  : November 5, 2020
Coupon Rate                    : 0.91%

Amount Applied                 : HK$6.070 billion
Amount Allotted                : HK$3.0 billion
Bid-to-Cover Ratio*            : 2.02

Average Price Accepted (Yield) : 98.37 (1.252%)
Lowest Price Accepted (Yield)  : 97.98 (1.333%)
Pro-rata Ratio                 : About 62%

Average Tender Price (Yield)   : 97.83 (1.366%)

* Calculated as the amount of bonds applied for over the amount of bonds issued.

Ends/Wednesday, November 4, 2015
Issued at HKT 12:00

NNNN