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Tender results of the re-opening of 3-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 tender of 2-year Government Bonds through the re-opening of existing 3-year Government Bond issue 03GB1605 under the Institutional Bond Issuance Programme was held today (March 7).  

     A total of HK$3.5 billion 2-year Government Bonds were offered today.  A total of HK$11.11 billion tender applications were received.  The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 3.17.  The average price accepted is 99.28, implying an annualised yield of 0.675%.  

HKSAR Government Institutional Bond Issuance Programme tender results

Tender results of re-opening of 3-year Government Bonds under the Institutional Bond Issuance Programme:

Tender Date                   : March 7, 2014

Issue Number                  : 03GB1605 (Re-open)

Stock Code                    : 4217 (HKGB 0.34 1605)

Issue and Settlement Date     : March 10, 2014

Tenor                         : 2-year

Maturity Date                 : May 9, 2016

Coupon Rate                   : 0.34%

Amount Applied                : HK$11.11 billion

Amount Allotted               : HK$3.5 billion

Bid-to-Cover Ratio*           : 3.17

Average Price Accepted (Yield): 99.28 (0.675%)

Lowest Price Accepted (Yield) : 99.25 (0.690%)

Pro-rata Ratio                : About 96%

Average Tender Price (Yield)  : 99.10 (0.762%)

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

Ends/Friday, March 7, 2014
Issued at HKT 12:13


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