Tender for the re-opening of 5-year Government Bonds under the Institutional Bond Issuance Programme to be held on May 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 (May 3) that a tender of 5-year Government Bonds (Bonds) through the re-opening of existing 5-year Government Bond issue 05GB2011 under the Institutional Bond Issuance Programme will be held on May 11 (Wednesday) for settlement on May 12 (Thursday).

     An additional amount of HK$2.5 billion of the outstanding 5-year Bonds (issue no. 05GB2011) will be on offer.  The Bonds will mature on November 5, 2020 and will carry interest at the rate of 0.91% per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on May 3 is 99.60 with an annualised yield of 1.005%.

     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           : 05GB2011 (Re-open)

Stock code             : 4229 (HKGB 0.91 2011)

Tender Date and Time   : May 11, 2016 (Wednesday)
                         9.30am to 10.30am

Issue and Settlement   : May 12, 2016 (Thursday)
Date for tender
amount

Amount on Offer        : HK$2.5 billion

Maturity               : 5 years

Remaining Maturity     : Approximately 4.49 years

Maturity Date          : November 5, 2020

Interest Rate          : 0.91% p.a. payable
                         semi-annually in arrears

Interest Payment Dates : November 7, 2016
                         May 5, 2017
                         November 6, 2017
                         May 7, 2018
                         November 5, 2018
                         May 6, 2019
                         November 5, 2019
                         May 5, 2020
                         November 5, 2020

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 (May 12) for the
                         tender amount is
                         HK$8.73 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 05GB2011
of Hong Kong Limited     (Stock code: 4229)
                         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
0.005          104.05     1.005          99.60
0.055          103.83     1.055          99.38
0.105          103.60     1.105          99.16
0.155          103.37     1.155          98.95
0.205          103.14     1.205          98.73
0.255          102.92     1.255          98.52
0.305          102.69     1.305          98.30
0.355          102.47     1.355          98.09
0.405          102.24     1.405          97.88
0.455          102.02     1.455          97.67
0.505          101.79     1.505          97.46
0.555          101.57     1.555          97.24
0.605          101.35     1.605          97.03
0.655          101.13     1.655          96.82
0.705          100.91     1.705          96.61
0.755          100.69     1.755          96.41
0.805          100.47     1.805          96.20
0.855          100.25     1.855          95.99
0.905          100.03     1.905          95.78
0.955          99.81      1.955          95.58
1.005          99.60      2.005          95.37

* 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/Tuesday, May 3, 2016
Issued at HKT 17:09

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