Tender for re-opening of 15-year Government Bonds under Institutional Bond Issuance Programme to be held on September 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), announces today (August 30) that a tender of 15-year Government Bonds (Bonds) through the re-opening of existing 15-year Government Bond issue 15GB3603 under the Institutional Bond Issuance Programme will be held on September 8 (Wednesday), for settlement on September 9 (Thursday).
An additional amount of HK$1.0 billion of the outstanding 15-year Bonds (issue number 15GB3603) will be on offer. The Bonds will mature on March 4, 2036 and will carry interest at the rate of 1.59 per cent per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on August 30 is 102.91 with an annualised yield of 1.374 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
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 | : |
15GB3603 (Re-open) |
| Stock code | : |
4244 (HKGB 1.59 3603) |
| Tender Date and Time | : |
September 8, 2021 (Wednesday) 9.30 am to 10.30 am |
|
Issue and Settlement Date for tender amount |
: | September 9, 2021 (Thursday) |
|
Amount on Offer |
: | HK$1.0 billion |
|
Maturity |
: | 15 years |
| Remaining Maturity | : |
Approximately 14.49 years |
| Maturity Date | : |
March 4, 2036 |
| Interest Rate | : |
1.59 per cent p.a. payable semi-annually in arrears |
| Interest Payment Dates | : | March 4,2022 September 5, 2022 March 6, 2023 September 4, 2023 March 4, 2024 September 4, 2024 March 4, 2025 September 4, 2025 March 4, 2026 September 4, 2026 March 4, 2027 September 6, 2027 March 6, 2028 September 4, 2028 March 5, 2029 September 4, 2029 March 4, 2030 September 4, 2030 March 4, 2031 September 4, 2031 March 4, 2032 September 6, 2032 March 4, 2033 September 5, 2033 March 6, 2034 September 4, 2034 March 5, 2035 September 4, 2035 March 4, 2036 |
| 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 (September 9, 2021) for the tender amount is HK$6.53 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 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 15GB3603 (Stock code: 4244) 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 |
| 0.374 | 117.14 | 1.374 | 102.89 |
| 0.424 | 116.37 | 1.424 | 102.23 |
| 0.474 | 115.61 | 1.474 | 101.58 |
| 0.524 | 114.86 | 1.524 | 100.93 |
| 0.574 | 114.12 | 1.574 | 100.29 |
| 0.624 | 113.37 | 1.624 | 99.65 |
| 0.674 | 112.64 | 1.674 | 99.01 |
| 0.724 | 111.91 | 1.724 | 98.38 |
| 0.774 | 111.18 | 1.774 | 97.76 |
| 0.824 | 110.46 | 1.824 | 97.14 |
| 0.874 | 109.75 | 1.874 | 96.52 |
| 0.924 | 109.04 | 1.924 | 95.91 |
| 0.974 | 108.34 | 1.974 | 95.30 |
| 1.024 | 107.64 | 2.024 | 94.70 |
| 1.074 | 106.95 | 2.074 | 94.10 |
| 1.124 | 106.26 | 2.124 | 93.50 |
| 1.174 | 105.57 | 2.174 | 92.91 |
| 1.224 | 104.90 | 2.224 | 92.33 |
| 1.274 | 104.22 | 2.274 | 91.75 |
| 1.324 | 103.55 | 2.324 | 91.17 |
| 1.374 | 102.89 | 2.374 | 90.60 |
* 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.
