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Tender for re-opening of 5-Year Government Bonds under Institutional Bond Issuance Programme to be held on September 5

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), announced today (August 27) that a tender of 2-Year Government Bonds (Bonds) through the re-opening of existing 5-Year Government Bond issue 05GB1411 under the Institutional Bond Issuance Programme will be held on September 5, 2012 (Wednesday), for settlement on September 6, 2012 (Thursday).

     An additional amount of HK$3.5 billion of the outstanding 5-Year Bonds (issue no. 05GB1411) will be on offer as 2-Year Bonds.  The Bonds will mature on November 3, 2014 and will carry interest at the rate of 2.07% per annum payable semi-annually in arrears. The Bonds Fixings on August 27, 2012 is 103.91 with an annualised yield of 0.275%.

     Under the Institutional Bond Issuance Programme, tender is open only to Recognized Dealers which are appointed as Primary Dealers.  Any tender applications for the Bonds must be submitted through a Primary Dealer on the current published list, which can be obtained from the Government Bond Programme's website at  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

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

Issue Number           : 05GB1411

Stock code             : 4202 (HKGB 2.07 1411)

Tender Date and Time   : September 5, 2012 (Wednesday)
                         9.30am to 10.30am

Issue and Settlement   : September 6, 2012 (Thursday)
Date for tender amount     

Amount on Offer        : HK$3.5 billion

Maturity               : 2 years

Remaining Maturity     : Approximately 2.16 years

Maturity Date          : November 3, 2014

Interest Rate          : 2.07% p.a. payable
                         in arrears

Interest Payment Dates : November 5, 2012
                         May 3, 2013
                         November 4, 2013
                         May 5, 2014
                         November 3, 2014

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
                         (September 6, 2012) for the
                         tender amount is HK$357.29
                         per minimum denomination of

                         (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
                         or approach Primary Dealers.

Expected commencement : The tender amount is fully
date of dealing on      fungible with the existing
the Stock Exchange      05GB1411 (Stock code: 4202)
of Hong Kong Limited    listed on the Stock Exchange
                        of Hong Kong.

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

Yield-to-Maturity Price  Yield-to-Maturity Price
      -0.725      106.08 0.275 103.85
      -0.675      105.97 0.325 103.74
      -0.625      105.86 0.375 103.63
      -0.575      105.75 0.425 103.53
      -0.525      105.63 0.475 103.42
      -0.475      105.52 0.525 103.31
      -0.425      105.41 0.575 103.20
      -0.375      105.30 0.625 103.09
      -0.325      105.18 0.675 102.98
      -0.275      105.07 0.725 102.87
      -0.225      104.96 0.775 102.76
      -0.175      104.85 0.825 102.66
      -0.125      104.74 0.875 102.55
      -0.075      104.63 0.925 102.44
      -0.025      104.52 0.975 102.33
       0.025      104.41 1.025 102.23
       0.075      104.29 1.075 102.12
       0.125      104.18 1.125 102.01
       0.175      104.07 1.175 101.91
       0.225      103.96 1.225 101.80
       0.275      103.85 1.275 101.69

* 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, August 27, 2012
Issued at HKT 19:52


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