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Tender for re-opening of 15-year Government Bonds under Institutional Bond Issuance Programme to be held on March 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 (March 2) that a tender of 15-year Government Bonds (Bonds) through the re-opening of existing 15-year Government Bond issue 15GB3403 under the Institutional Bond Issuance Programme will be held on March 11 (Wednesday), for settlement on March 12 (Thursday).
 
     An additional amount of HK$0.8 billion of the outstanding 15-year Bonds (issue no. 15GB3403) will be on offer. The Bonds will mature on March 7, 2034 and will carry interest at the rate of 2.02 per cent per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on March 2 is 113.37 with an annualised yield of 0.999 per cent.
 
     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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     ‚ÄčTender information of re-opening of 15-year Government Bonds under the Institutional Bond Issuance Programme:
 
Issue Number : 15GB3403 (Re-open)
 
Stock code : 4237 (HKGB 2.02 3403)
 
Tender Date and Time : March 11, 2020 (Wednesday)
9.30am to 10.30am
 
Issue and Settlement Date for tender amount
 
: March 12, 2020 (Thursday)
Amount on Offer
 
: HK$0.8 billion
Maturity              
 
: 15 years
 
Remaining Maturity : Approximately 13.99 years
 
Maturity Date : March 7, 2034
 
Interest Rate     : 2.02 per cent p.a. payable semi-annually in arrears
Interest Payment Dates  :
September 7, 2020
March 8, 2021
September 7, 2021
March 7, 2022
September 7, 2022
March 7, 2023
September 7, 2023
March 7, 2024
September 9, 2024
March 7, 2025
September 8, 2025
March 9, 2026
September 7, 2026
March 8, 2027
September 7, 2027
March 7, 2028
September 7, 2028
March 7, 2029
September 7, 2029
March 7, 2030
September 9, 2030
March 7, 2031
September 8, 2031
March 8, 2032
September 7, 2032
March 7, 2033
September 7, 2033
March 7, 2034
 
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 (March 12, 2020) for the tender amount is HK$8.30 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 date of dealing on
the Stock Exchange
of Hong Kong Limited
: The tender amount is fully fungible with the existing 15GB3403 (Stock code: 4237) 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
-0.001 128.27 0.999 113.33
0.049 127.47 1.049 112.64
0.099 126.68 1.099 111.95
0.149 125.89 1.149 111.27
0.199 125.11 1.199 110.59
0.249 124.33 1.249 109.92
0.299 123.56 1.299 109.25
0.349 122.80 1.349 108.59
0.399 122.04 1.399 107.93
0.449 121.28 1.449 107.27
0.499 120.53 1.499 106.62
0.549 119.79 1.549 105.98
0.599 119.05 1.599 105.34
0.649 118.32 1.649 104.70
0.699 117.59 1.699 104.07
0.749 116.87 1.749 103.44
0.799 116.15 1.799 102.82
0.849 115.44 1.849 102.20
0.899 114.73 1.899 101.59
0.949 114.03 1.949 100.98
0.999 113.33 1.999 100.38
 
*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, March 2, 2020
Issued at HKT 19:21
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