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Tender for re-opening of 10-year Government Bonds under Institutional Bond Issuance Programme to be held on November 29
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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 (November 20) that a tender of five-year Government Bonds (Bonds) through the re-opening of existing 10-year Government Bond issue 10GB2706 under the Institutional Bond Issuance Programme will be held on November 29, 2023 (Wednesday), for settlement on November 30, 2023 (Thursday).

     An additional amount of HK$3.0 billion of the outstanding 10-year Bonds (issue no. 10GB2706) will be on offer. The Bonds will mature on June 29, 2027 and will carry interest at the rate of 1.25 per cent per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on November 20, 2023 are 91.58 with an annualised yield of 3.804 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 10-year Government Bonds under the Institutional Bond Issuance Programme:
 
Issue Number : 10GB2706 (Re-open) 
Stock Code : 4235 (HKGB 1.25 2706)
Tender Date and Time : November 29, 2023 (Wednesday)
9.30am to 10.30am
Issue and Settlement Date for Tender Amount : November 30, 2023 (Thursday)
Amount on Offer : HK$3.0 billion
Maturity : 5 years
Remaining Maturity : Approximately 3.58 years
Maturity Date : June 29, 2027
Interest Rate : 1.25 per cent p.a. payable semi-annually in arrears
Interest Payment Dates  : December 29, 2023
June 28, 2024
December 30, 2024
June 30, 2025
December 29, 2025
June 29, 2026
December 29, 2026
June 29, 2027
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 (November 30, 2023) for the tender amount is HK$263.70 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 10GB2706 (Stock code: 4235) 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
2.804 94.81 3.804 91.64
2.854 94.65 3.854 91.49
2.904 94.48 3.904 91.33
2.954 94.32 3.954 91.18
3.004 94.16 4.004 91.03
3.054 94.00 4.054 90.87
3.104 93.84 4.104 90.72
3.154 93.68 4.154 90.57
3.204 93.52 4.204 90.41
3.254 93.37 4.254 90.26
3.304 93.21 4.304 90.11
3.354 93.05 4.354 89.96
3.404 92.89 4.404 89.81
3.454 92.73 4.454 89.66
3.504 92.58 4.504 89.51
3.554 92.42 4.554 89.36
3.604 92.26 4.604 89.21
3.654 92.11 4.654 89.06
3.704 91.95 4.704 88.91
3.754 91.80 4.754 88.76
3.804 91.64 4.804 88.61
 
* 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, November 20, 2023
Issued at HKT 16:30
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