Tender for the re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme
The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (10 October) that a switch tender under the Institutional Bond Issuance Programme will be held on Wednesday, 19 October 2022, for settlement on Thursday, 20 October 2022.
The switch tender will involve issue of 10-year Government Bonds through the re-opening of existing Government Bond issue 10GB2601 (Bonds) and early redemption of Government Bond issue 15GB3603.
An additional amount of HK$0.6 billion of the outstanding 10-year Bonds (issue no. 10GB2601) will be on offer. The Bonds will mature on 21 January 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 10 October 2022 is 93.10 with an annualised yield of 3.981%. Successful bidders will additionally be required to deliver Government Bond issue 15GB3603 to the HKMA for early redemption at 78.51. The nominal value of Government Bond issue 15GB3603 to be delivered by a successful bidder shall equal to the nominal value of the Bonds allotted to the bidder at this switch tender.
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 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 Hong Kong Government Bonds website, the Refinitiv screen (HKGBINDEX), and Bloomberg (GBHK <GO>) not later than 3:00 pm on the tender day.
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