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Tender for re-opening of 3-year Government Bonds under Institutional Bond Issuance Programme to be held on October 12
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 (October 3) that a tender of 3-year Government Bonds (Bonds) through the re-opening of existing 3-year Government Bond issue 03GB2504 under the Institutional Bond Issuance Programme will be held on October 12, 2022 (Wednesday), for settlement on October 13, 2022 (Thursday).
     An additional amount of HK$2.5 billion of the outstanding 3-year Bonds (issue no. 03GB2504) will be on offer. The Bonds will mature on April 14, 2025 and will carry interest at the rate of 1.79 per cent per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on October 3, 2022 is 95.06 with an annualised yield of 3.896 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 Hong Kong Government Bonds 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 Hong Kong Government Bonds website, the Refinitiv 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 3-year Government Bonds under the Institutional Bond Issuance Programme:
Issue Number : 03GB2504 (Re-open) 
Stock Code : 4253 (HKGB 1.79 2504) 
Tender Date and Time : October 12, 2022 (Wednesday)
9.30am to 10.30am 
Issue and Settlement Date for Tender Amount  : October 13, 2022 (Thursday)
Amount on Offer  : HK$2.5 billion
Maturity  : 3 year
Remaining Maturity : Approximately 2.50 years 
Maturity Date : April 14, 2025 
Interest Rate : 1.79% p.a. payable semi-annually in arrears 
Interest Payment Dates  : October 14, 2022
April 14, 2023
October 16, 2023
April 15, 2024
October 14, 2024
April 14, 2025
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 (October 13, 2022) for the tender amount is HK$446.27 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 Hong Kong Government Bonds 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 03GB2504 (Stock code: 4253) listed on the Stock Exchange of Hong Kong.

Price/Yield Table of the Government Bonds at tender for reference* only:
Yield-to-Maturity Price Yield-to-Maturity Price
2.896 97.40 3.896 95.11
2.946 97.28 3.946 95.00
2.996 97.17 3.996 94.89
3.046 97.05 4.046 94.78
3.096 96.93 4.096 94.66
3.146 96.82 4.146 94.55
3.196 96.70 4.196 94.44
3.246 96.59 4.246 94.33
3.296 96.47 4.296 94.22
3.346 96.36 4.346 94.11
3.396 96.25 4.396 94.00
3.446 96.13 4.446 93.89
3.496 96.02 4.496 93.78
3.546 95.90 4.546 93.67
3.596 95.79 4.596 93.56
3.646 95.68 4.646 93.45
3.696 95.56 4.696 93.34
3.746 95.45 4.746 93.23
3.796 95.34 4.796 93.12
3.846 95.22 4.846 93.01
3.896 95.11 4.896 92.90
* 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, October 3, 2022
Issued at HKT 18:14
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