By Jennifer Chiou
New York, Dec. 19 – Hong Kong auctioned a total of HK$2.2 billion of exchange-fund notes in two parts on Friday, according to a term sheet.
Specifically, HK$1 billion of 1.32% five-year notes had an accepted average price of 99.73 for a yield of 1.38%.
Bids were received for HK$2.02 billion of those notes. The average tender price was 99.67 for a yield of 1.39%.
The other tranche involved HK$1.2 billion of reopened 0.27% three-year notes with an accepted average price of 98.12 for a yield of 0.91%.
Bids were received for HK$3.77 billion of those notes. The average tender price was 98.07 for a yield of 0.93%.
| Issuer: | Hong Kong
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| Issue: | Exchange-fund notes
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| Total amount: | HK$2.2 billion
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| Auction date: | Dec. 19
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| Settlement date: | Dec. 22
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| Five-year notes
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| Amount: | HK$1 billion
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| Maturity: | Dec. 23, 2019
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| Coupon: | 1.32%
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| Average accepted price: | 99.73
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| Yield at average price: | 1.38%
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|
| Three-year notes
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| Amount: | HK$1.2 billion
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| Maturity: | Dec. 18, 2017
|
| Coupon: | 0.27%
|
| Average accepted price: | 98.12
|
| Yield at average price: | 0.91%
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