{"id":254188,"date":"2024-08-14T14:04:29","date_gmt":"2024-08-14T14:04:29","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/14\/hong-kong-monetary-authority-reports-tender-results-for-1-year-honia-indexed-floating-rate-notes\/"},"modified":"2025-06-25T17:12:26","modified_gmt":"2025-06-25T17:12:26","slug":"hong-kong-monetary-authority-reports-tender-results-for-1-year-honia-indexed-floating-rate-notes","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/14\/hong-kong-monetary-authority-reports-tender-results-for-1-year-honia-indexed-floating-rate-notes\/","title":{"rendered":"Hong Kong Monetary Authority Reports Tender Results for 1-Year HONIA-Indexed Floating Rate Notes"},"content":{"rendered":"

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\n Zach Anderson<\/a>
\n Aug 14, 2024 13:53<\/span> \n <\/p>\n

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The HKMA has announced the tender results for the 1-year HONIA-indexed Floating Rate Notes, with a bid-to-cover ratio of 4.56 and highest spread accepted at 0.22%.<\/p>\n


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\n \"Hong
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The Hong Kong Monetary Authority (HKMA), representing the Hong Kong Special Administrative Region Government (HKSAR Government), has disclosed the results of the tender for 1-year HONIA-indexed Floating Rate Notes, according to the official source<\/a>.<\/p>\n

Tender Results Overview<\/h2>\n

The tender, part of the Institutional Bond Issuance Programme, saw a total allocation of HK$1.5 billion in 1-year HONIA-indexed Floating Rate Notes (issue number 01GH2508). The HKMA reported receiving HK$6.840 billion in tender applications, resulting in a bid-to-cover ratio of 4.56. The highest spread accepted was 0.22%.<\/p>\n

Details of the Issuance<\/h2>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Tender Date<\/th>\n:<\/td>\n14 August 2024<\/td>\n<\/tr>\n
Issue Number<\/th>\n:<\/td>\n01GH2508<\/td>\n<\/tr>\n
Stock Code<\/th>\n:<\/td>\n4282 (HKGB FRN 2508)<\/td>\n<\/tr>\n
Issue and Settlement Date<\/th>\n:<\/td>\n15 August 2024<\/td>\n<\/tr>\n
Tenor<\/th>\n:<\/td>\n1-year<\/td>\n<\/tr>\n
Maturity Date<\/th>\n:<\/td>\n15 August 2025<\/td>\n<\/tr>\n
Amount Applied<\/th>\n:<\/td>\nHK$6.840 billion<\/td>\n<\/tr>\n
Amount Allotted<\/th>\n:<\/td>\nHK$1.5 billion<\/td>\n<\/tr>\n
Bid-to-Cover Ratio*<\/th>\n:<\/td>\n4.56<\/td>\n<\/tr>\n
Highest Spread Accepted<\/th>\n:<\/td>\n0.22%<\/td>\n<\/tr>\n
Average Spread Accepted<\/th>\n:<\/td>\n0.17%<\/td>\n<\/tr>\n
Pro-rata Ratio<\/th>\n:<\/td>\nAbout 8%<\/td>\n<\/tr>\n
Average Tender Spread<\/th>\n:<\/td>\n0.32%<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

* Calculated as the amount of notes applied for over the amount of notes issued.<\/em><\/p>\n

Market Implications<\/h2>\n

The successful tender of the 1-year HONIA-indexed Floating Rate Notes indicates strong demand for Hong Kong government bonds. With a bid-to-cover ratio of 4.56, the market’s appetite for secure, government-backed financial instruments remains robust.<\/p>\n

This issuance aligns with the HKMA’s ongoing efforts to maintain a stable financial environment and provide diverse investment opportunities. The accepted average spread of 0.17% highlights investor confidence in the stability and creditworthiness of the HKSAR Government.<\/p>\n

The HKMA continues to play a crucial role in managing Hong Kong’s monetary policy and financial stability, and the results of this tender further underscore the institution’s effectiveness in these areas.<\/p>\n

Image source: Shutterstock<\/i><\/span><\/p>\n

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[ad_1] Zach Anderson Aug 14, 2024 13:53 The HKMA has announced the tender results for the 1-year HONIA-indexed Floating Rate Notes,<\/p>\n","protected":false},"author":1,"featured_media":254189,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[171],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/254188"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=254188"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/254188\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/254189"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=254188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=254188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=254188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}