By Marisa Wong
Madison, Wis., March 18 - The Hong Kong Monetary Authority announced the results of its Friday auction of HK$2.2 billion total of exchange fund notes.
Hong Kong auctioned HK$1 billion of 1.91% exchange fund notes due March 21, 2016 at an average tender price of 100.55, with an average yield of 1.8%.
The average accepted price was 100.76, and the lowest accepted price was 100.72.
A total of about HK$4.15 billion of demand was received in competitive bids for the sale, of which HK$1 billion was accepted.
The pro rata ratio was about 52%.
In a second tranche, Hong Kong auctioned HK$1.2 billion in a reopening of its 1.67% exchange fund notes due March 24, 2014 at an average tender price of 101.84, with an average yield of 1.05%.
The average accepted price was 101.95, and the lowest accepted price was 101.91.
A total of HK$7.9 billion of demand was received in competitive bids for the sale, of which HK$1.2 billion was accepted.
The pro rata ratio was about 40%.
| Issuer: | Hong Kong Monetary Authority
|
| Total amount: | HK$2.2 billion
|
| Issue: | Exchange fund notes
|
| Auction date: | March 18
|
| Settlement date: | March 21
|
|
|
| Bonds due 2016
|
| Amount: | HK$1 billion
|
| Maturity: | March 21, 2016
|
| Coupon: | 1.91%
|
| Price (average): | 100.55
|
| Yield (average): | 1.8%
|
|
|
| Bonds due 2014
|
| Amount: | HK$1.2 billion
|
| Maturity: | March 24, 2014
|
| Coupon: | 1.67%
|
| Price (average): | 101.84
|
| Yield (average): | 1.05%
|
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