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Source: Hong Kong Government special administrative region

Tender for re-opening of 10-year Government Bonds under Institutional Bond Issuance Programme to be held on November 18
Tender for re-opening of 10-year Government Bonds under Institutional Bond Issuance Programme to be held on November 18
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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 (Monday) that a tender of 5-year Government Bonds (Bonds) through the re-opening of existing 10-year Government Bond issue 10GB2601 under the Institutional Bond Issuance Programme will be held on Wednesday, November 18, 2020, for settlement on Thursday, November 19, 2020.           An additional amount of HK$2.5 billion of the outstanding 10-year Bonds (issue no. 10GB2601) will be on offer. The Bonds will mature on January 21, 2026 and will carry interest at the rate of 1.68% per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on November 9, 2020 is 107.59 with an annualised yield of 0.213%.           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 ) not later than 3:00 pm on the tender day.HKSAR Government Institutional Bond Issuance Programme Tender Information—————————————————————————————–     Tender information of re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme: 

Issue Number
:
10GB2601 (Re-open)
Stock code
:
4230 (HKGB 1.68 2601)
Tender Date and Time
:
Wednesday, November 18, 20209.30am to 10.30am
Issue and Settlement Date for tender amount
:
Thursday, November 19, 2020
Amount on Offer 
:
HK$2.5 billion
Maturity              
:
10 years
Remaining Maturity
:
Approximately 5.18 years
Maturity Date
:
January 21, 2026
Interest Rate    
:
1.68% p.a. payable semi-annually in arrears
Interest Payment Dates 
:
January 21, 2021July 21, 2021January 21, 2022July 21, 2022January 25, 2023July 21, 2023January 22, 2024July 22, 2024January 21, 2025July 21, 2025January 21, 2026
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 19, 2020) for the tender amount is HK$278.47 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 onthe Stock Exchangeof Hong Kong Limited
:
The tender amount is fully fungible with the existing 10GB2601 (Stock code: 4230) 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
-0.787
113.05
0.213
107.54
-0.737
112.77
0.263
107.27
-0.687
112.48
0.313
107.00
-0.637
112.20
0.363
106.74
-0.587
111.92
0.413
106.47
-0.537
111.64
0.463
106.21
-0.487
111.36
0.513
105.95
-0.437
111.08
0.563
105.69
-0.387
110.80
0.613
105.42
-0.337
110.53
0.663
105.16
-0.287
110.25
0.713
104.90
-0.237
109.98
0.763
104.65
-0.187
109.70
0.813
104.39
-0.137
109.43
0.863
104.13
-0.087
109.16
0.913
103.87
-0.037
108.88
0.963
103.62
0.013
108.61
1.013
103.36
0.063
108.34
1.063
103.11
0.113
108.07
1.113
102.86
0.163
107.80
1.163
102.60
0.213
107.54
1.213
102.35

 * 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 9, 2020Issued at HKT 18:20

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