Tender for the re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme to be held on May 12

1 week ago 11

Tender for the re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme to be held on May 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), announces today (May 3) 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 May 12, 2021 (Wednesday), for settlement on May 13, 2021 (Thursday).
 
     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 cent per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on May 3, 2021 is 104.81 with an annualised yield of 0.646 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 <GO>) not later than 3pm 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 : May 12, 2021 (Wednesday)
9.30am to 10.30am
 
Issue and Settlement Date for tender amount
 
: May 13, 2021 (Thursday)
Amount on Offer
 
: HK$2.5 billion
Maturity              
 
: 5 years
Remaining Maturity : Approximately 4.70 years
 
Maturity Date : January 21, 2026
 
Interest Rate     : 1.68 per cent p.a. payable semi-annually in arrears
 
Interest Payment Dates  : July 21, 2021
January 21, 2022
July 21, 2022
January 25, 2023
July 21, 2023
January 22, 2024
July 22, 2024
January 21, 2025
July 21, 2025
January 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 (May 13, 2021) for the tender amount is HK$257.75 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 10GB2601 (Stock code: 4230) 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
-0.354 109.64 0.646 104.78
-0.304 109.39 0.696 104.54
-0.254 109.14 0.746 104.31
-0.204 108.89 0.796 104.07
-0.154 108.64 0.846 103.84
-0.104 108.40 0.896 103.60
-0.054 108.15 0.946 103.37
-0.004 107.90 0.996 103.14
0.046 107.66 1.046 102.91
0.096 107.42 1.096 102.68
0.146 107.17 1.146 102.45
0.196 106.93 1.196 102.22
0.246 106.69 1.246 101.99
0.296 106.45 1.296 101.76
0.346 106.21 1.346 101.53
0.396 105.97 1.396 101.31
0.446 105.73 1.446 101.08
0.496 105.49 1.496 100.86
0.546 105.25 1.546 100.63
0.596 105.01 1.596 100.41
0.646 104.78 1.646 100.18
 
* 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, May 3, 2021
Issued at HKT 18:22

NNNN

Read Entire Article