By Richard Connell
New York, Sept. 2 - The Hong Kong Monetary Authority announced the results of the inaugural issue of government bonds under the Institutional Bond Issuance Programme, which was held on Wednesday.
Hong Kong auctioned HK$3.5 billion of 0.92% notes due Sept. 5, 2011 at an average yield of 0.59%.
The average accepted price was 100.65, and the lowest accepted was 100.6.
A total of HK$22.584 billion of demand was received, while the pro rata ratio was about 95% and the bid-to-cover ratio was 6.45.
Issuer: | Hong Kong Monetary Authority
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Issue: | Government bonds
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Amount: | HK$3.5 billion
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Maturity: | Sept. 5, 2011
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Coupon: | 0.92%
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Price: | 100.65 (average)
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Yield: | 0.59% (average)
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Auction date: | Sept. 2
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Settlement date: | Sept. 3
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