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 10-year Government Bonds through the re-opening of existing 10-year Government Bond issue 10GB2706 under the Institutional Bond Issuance Programme was held today (July 11).
 
     A total of HK$1.2 billion 10-year Government Bonds were offered today.  A total of HK$4.952 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 4.13. The average price accepted is 90.95, implying an annualised yield of 2.391%. 

HKSAR Government Institutional Bond Issuance Programme Government Bond Tender Results
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     Tender results of the re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme:
 

Tender Date	:	July 11, 2018
Issue Number	:	10GB2706 (Re-open)
Stock Code	:	4235 (HKGB 1.25 2706)
Issue and Settlement Date	:	July 12, 2018
Tenor	:	10-year
Maturity Date	:	June 29, 2027
Coupon Rate	:	1.25%
Amount Applied	:	HK$4.952 billion
Amount Allotted	:	HK$1.2 billion
Bid-to-Cover Ratio*	:	4.13
Average Price Accepted (Yield)	:	90.95 (2.391%)
Lowest Price Accepted (Yield)	:	90.40 (2.464%)
Pro-rata Ratio	:	About 4%
Average Tender Price (Yield)	:	89.82 (2.542%)

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

Ends/Wednesday, July 11, 2018
Issued at HKT 16:05

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