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 that a tender of 3-year Government Bonds through the re-opening of existing 5-year Government Bond issue 05GB2002 under the Institutional Bond Issuance Programme was held today (April 6). 
 
     A total of HK$4.0 billion 3-year Government Bonds were offered today.  A total of HK$10.965 billion tender applications were received.  The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 2.74.  The average price accepted is 99.94, implying an annualised yield of 1.084%. 

HKSAR Government Institutional Bond Issuance Programme Government Bond Tender Result
---------------------------------------------------------------------------------------------------------------------
Tender results of re-opening of 5-year Government Bonds under the Institutional Bond Issuance Programme:
 

Tender Date	:	April 6, 2017
Issue Number	:	05GB2002 (Re-open)
Stock Code	:	4225 (HKGB 1.06 2002)
Issue and Settlement Date	:	April 7, 2017
Tenor	:	3-year
Maturity Date	:	February 5, 2020
Coupon Rate	:	1.06%
Amount Applied	:	HK$10.965 billion
Amount Allotted	:	HK$4.0 billion
Bid-to-Cover Ratio*	:	2.74
Average Price Accepted (Yield)	:	99.94 (1.084%)
Lowest Price Accepted (Yield)	:	99.86 (1.113%)
Pro-rata Ratio	:	About 14%
Average Tender Price (Yield)	:	99.72 (1.165%)

 
* Calculated as the amount of bonds applied for over the amount of bonds issued.

Ends/Thursday, April 6, 2017
Issued at HKT 12:45

NNNN