Tender of 1-year RMB HKSAR Institutional Government Bonds to be held on December 5
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 29) that a tender of 1-year RMB Institutional Government Bonds (Bonds) under the Infrastructure Bond Programme will be held on December 5, 2024 (Thursday), for settlement on December 9, 2024 (Monday).
A total of RMB1.5 billion 1-year RMB Bonds will be tendered. The Bonds will mature on December 9, 2025, and will carry interest at the rate of 2.38 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
Tender information of 1-year RMB HKSAR Institutional Government Bonds:
Issue Number |
: |
01GB2512001 |
Stock Code |
: |
84595 HKGB2.38 2512-R |
Tender Date and Time |
: |
December 5, 2024 (Thursday)
9.30 am to 10.30 am |
Issue and Settlement Date |
: |
December 9, 2024 (Monday) |
Amount on Offer |
: |
RMB1.5 billion |
Maturity |
: |
1 year |
Maturity Date |
: |
December 9, 2025 (Tuesday) |
Interest Rate |
: |
2.38 per cent p.a. payable semi-annually in arrear |
Interest Payment Dates |
: |
June 9 and December 9 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 |
: |
December 10, 2024 (Tuesday) |
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. |
Monetary statistics for October 2024
The following is issued on behalf of the Hong Kong Monetary Authority:
According to statistics published today (November 29) by the Hong Kong Monetary Authority, total deposits with authorized institutions remained virtually unchanged in October 2024. Among the total, Hong Kong dollar deposits increased by 0.4 per cent, while foreign currency deposits decreased by 0.3per cent in October. In the year to end-October, total deposits and Hong Kong dollar deposits grew by 5.8per cent and 2.8per cent respectively. Renminbi deposits in Hong Kong decreased by 5.8per cent in October to RMB957.8 billion at the end of October, mainly reflecting fund flows of corporates. The total remittance of renminbi for cross-border trade settlement amounted to RMB 1,218.0 billion in October, compared with RMB1,267.2 billion in September. It should be noted that changes in deposits are affected by a wide range of factors, such as interest rate movements and fund-raising activities. It is therefore more appropriate to observe the longer-term trends, and not to over-generalise fluctuations in a single month.
Total loans and advances decreased by 1.1per cent in October, and decreased by 3.2per cent in the year to end-October. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong both decreased by 1.1per cent in October. The Hong Kong dollar loan-to-deposit ratio decreased to 77.5per cent at the end of October from 78.4per cent at the end of September, as Hong Kong dollar deposits increased while Hong Kong dollar loans decreased.
Hong Kong dollar M2 and M3 both increased by 0.3per cent in October and both increased by 3.7per cent when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 increased by 1.2per cent in October and increased by 3.4per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 0.2per cent in October. Compared to a year earlier, total M2 and total M3 both increased by 8.6 per cent.
As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal and IPO-related funding demand as well as business and investment-related activities, caution is required when interpreting the statistics.
