Tender of 2-year RMB HKSAR Institutional Government Bonds to be held on November 14
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), announced today (November 8) that a tender of 2-year RMB Institutional Government Bonds (Bonds) under the Infrastructure Bond Programme will be held on November 14, 2024 (Thursday), for settlement on November 18, 2024 (Monday).
A total of RMB1.0 billion 2-year RMB Bonds will be tendered. The Bonds will mature on November 18, 2026 and will carry interest at the rate of 2.04 per cent per annum payable semi-annually in arrear.
Tender is open only to Primary Dealers appointed under the Infrastructure Bond Programme. Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the latest published list, which can be obtained from the Hong Kong Government Bonds website at www.hkgb.gov.hk. Each tender must be for an amount of RMB50,000 or integral multiples thereof.
Tender results will be published on the HKMA's website, the Hong Kong Government Bonds website, Bloomberg (GBHK <GO>) and Refinitiv (IBPGSBPINDEX). The publication time is expected to be no later than 3pm on the tender day.
HKSAR Institutional Government Bonds tender information
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Tender information of 2-year RMB HKSAR Institutional Government Bonds:
Issue Number |
: |
02GB2611001 |
Stock Code |
: |
84585 (HKGB2.04 2611-R) |
Tender Date and Time |
: |
Thursday, November 14, 2024
9.30am to 10.30am |
Issue and Settlement Date |
: |
Monday, November 18, 2024 |
Amount on Offer |
: |
RMB1.0 billion |
Maturity |
: |
2 years |
Maturity Date |
: |
Wednesday, November 18, 2026 |
Interest Rate |
: |
2.04 per cent p.a. payable semi-annually in arrear |
Interest Payment Dates |
: |
May 18 and November 18 in each year, commencing on the Issue Date up to and including the Maturity Date, subject to adjustment in accordance with the terms of the Institutional Issuances Information Memorandum of the Infrastructure Bond Programme and Government Sustainable Bond Programme (Information Memorandum) published on the Hong Kong Government Bonds website. |
Method of Tender |
: |
Competitive tender |
Tender Amount |
: |
Each competitive tender must be for an amount of RMB50,000 or integral multiples thereof. Any tender applications for the Bonds must be submitted through a Primary Dealer on the latest published list. |
Other Details |
: |
Please see the Information Memorandum available on the Hong Kong Government Bonds website or approach Primary Dealers. |
Expected commencement date of dealing on
the Stock Exchange
of Hong Kong Limited |
: |
Tuesday, November 19, 2024 |
Use of Proceeds |
: |
The Bonds will be issued under the institutional part of the Infrastructure Bond Programme. Proceeds will be invested in infrastructure projects in accordance with the Infrastructure Bond Framework published on the Hong Kong Government Bonds website. |
Appointment of Chairman of AFRC
The Government announced today (November 8) that the Chief Executive (CE) has, pursuant to the Accounting and Financial Reporting Council Ordinance (Cap. 588), appointed Dr David Sun Tak-kei as the Chairman of the Accounting and Financial Reporting Council (AFRC) for a term of two years from January 1, 2025, to December 31, 2026.
Dr Sun was the Director of Audit between 2012 and 2018, prior to which he was President of the Hong Kong Institute of Certified Public Accountants (HKICPA) and Chairman of an international audit firm.
The Financial Secretary, Mr Paul Chan, said, "Dr Sun is an esteemed accounting veteran with abundant experience in, inter alia, public administration, the financial markets, and the audit profession. He is committed to public service and commands respect from the accounting sector. I look forward to the AFRC's continued efforts under the leadership of Dr Sun in regulating local financial reporting and driving the development of accounting profession, thereby contributing to the further development of the financial markets and corporate governance in Hong Kong."
On the retirement of Dr Kelvin Wong Tin-yau as the Chairman of the AFRC by the end of the year, Mr Chan added, "During his tenure as the AFRC Chairman, Dr Wong has made remarkable contributions, including leading the AFRC in the smooth implementation of the accounting and audit regulatory reforms, bringing our regulatory regime in line with international developments in an orderly manner. I would like to thank Dr Wong for his endeavours and contributions over the years."
Upon the commencement of the new regulatory regime of the accounting profession on October 1, 2022, the AFRC has become a full-fledged regulatory and oversight body of the accounting profession with expanded statutory functions of, inter alia, registration, inspection, investigation and discipline. It is also responsible for promoting and supporting the development of the accounting profession, as well as overseeing the HKICPA's performance of various statutory professional functions.
