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Tender for re-opening of 15-year Government Bonds under Institutional Bond Issuance Programme to be held on March 8
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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), announced today (February 27) that a tender of 10-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 Wednesday, March 8, 2023, for settlement on Thursday, March 9, 2023.
      
     An additional amount of HK$1.5 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 February 27, 2023, are 83.92 with an annualised yield of 3.860 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
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     Tender 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 : Wednesday, March 8, 2023
9.30am to 10.30am 
Issue and Settlement Date for Tender Amount  : Thursday, March 9, 2023
Amount on Offer  : HK$1.5 billion
Maturity : 10 years
Remaining Maturity : Approximately 11 years 
Maturity Date : March 7, 2034 
Interest Rate : 2.02 per cent p.a. payable semi-annually in arrears 
Interest Payment Dates  : 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 9, 2023) for the tender amount is HK$5.53 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 15GB3403 (Stock code: 4237) 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
2.860 92.30 3.860 83.94
2.910 91.86 3.910 83.54
2.960 91.42 3.960 83.15
3.010 90.99 4.010 82.76
3.060 90.55 4.060 82.37
3.110 90.12 4.110 81.98
3.160 89.69 4.160 81.60
3.210 89.27 4.210 81.22
3.260 88.84 4.260 80.84
3.310 88.42 4.310 80.46
3.360 88.00 4.360 80.09
3.410 87.59 4.410 79.71
3.460 87.17 4.460 79.34
3.510 86.76 4.510 78.97
3.560 86.35 4.560 78.61
3.610 85.94 4.610 78.24
3.660 85.53 4.660 77.88
3.710 85.13 4.710 77.52
3.760 84.73 4.760 77.16
3.810 84.33 4.810 76.80
3.860 83.94 4.860 76.45

* 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, February 27, 2023
Issued at HKT 18:02
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