The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announces today (11 October) that a tender of 3-year Government Bonds (Bonds) through the re-opening of existing 3-year Government Bond issue 03GB2404 under the Institutional Bond Issuance Programme will be held on Thursday, 21 October 2021, for settlement on Friday, 22 October 2021.

An additional amount of HK$4.0 billion of the outstanding 3-year Bonds (issue no. 03GB2404) will be on offer. The Bonds will mature on 15 April 2024 and will carry interest at the rate of 0.36% per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on 11 October 2021 is 100.04 with an annualised yield of 0.344%.

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 https://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 3:00 pm on the tender day.

Hong Kong Monetary Authority
11 October 2021


 

HKSAR GOVERNMENT
INSTITUTIONAL BOND ISSUANCE PROGRAMME
TENDER INFORMATION
_________________________________________________________________

Tender information of re-opening of 3-year Government Bonds under the Institutional Bond Issuance Programme:-

Issue Number

:

03GB2404 (Re-open)

Stock code

:

4245 (HKGB 0.36 2404)

Tender Date and Time

:

Thursday, 21 October 2021

9:30 am to 10:30 am

Issue and Settlement Date for tender amount

:

Friday, 22 October 2021

Amount on Offer

:

HK$4.0 billion

Maturity              

:

3 years

Remaining Maturity 

:

Approximately 2.48 years

Maturity Date

:

15 April 2024

Interest Rate    

:

0.36% p.a. payable semi-annually in arrears

Interest Payment Dates 

:

19 April 2022

17 October 2022

17 April 2023

16 October 2023

15 April 2024

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 (22 October 2021) for the tender amount is HK$3.45 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 https://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 03GB2404 (Stock code: 4245) 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

-0.656

102.55

0.344

100.04

-0.606

102.42

0.394

99.92

-0.556

102.29

0.444

99.79

-0.506

102.17

0.494

99.67

-0.456

102.04

0.544

99.55

-0.406

101.91

0.594

99.43

-0.356

101.79

0.644

99.30

-0.306

101.66

0.694

99.18

-0.256

101.53

0.744

99.06

-0.206

101.41

0.794

98.94

-0.156

101.28

0.844

98.82

-0.106

101.16

0.894

98.70

-0.056

101.03

0.944

98.58

-0.006

100.91

0.994

98.46

0.044

100.78

1.044

98.34

0.094

100.66

1.094

98.22

0.144

100.53

1.144

98.10

0.194

100.41

1.194

97.98

0.244

100.29

1.244

97.86

0.294

100.16

1.294

97.74

0.344

100.04

1.344

97.62

 

* 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.

Hong Kong Monetary Authority
11 October 2021



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