The Hong Kong Monetary Authority (HKMA) announced today that tender for a 5-year Government Bond under the Institutional Bond Issuance Programme was held today.

A total of HK$2.5 billion 5-year Government Bonds were offered today. A total of HK$4.03 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 1.61 (representing an over-subscription of 61%).

The average price accepted is 99.42, implying an annualised yield of 1.092%. The lowest price accepted is 97.99, representing an annualised yield of 1.392%.