By Richard Connell
New York, Dec. 17 - The Hong Kong Monetary Authority announced the results of its auction of HK$2.2 billion exchange fund noted held on Friday.
Hong Kong auctioned HK$1 billion of 1.52% exchange fund notes due Dec. 21, 2015 at an average yield of 1.87%.
The average accepted price was 98.36, and the lowest accepted price was 98.24.
A total of HK$3.75 billion of demand was received in competitive bids for the sale, of which HK$1 billion was accepted.
The pro rata ratio was about 60%.
In a second tranche, Hong Kong auctioned HK$1.2 billion in a reopening of its 1.67% exchange fund notes due Dec. 19, 2013 at an average yield of 1.05%.
The average accepted price was 101.84, and the lowest accepted price was 101.8.
A total of HK$6.53 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 70%.
| Issuer: | Hong Kong Monetary Authority
|
| Total amount: | HK$2.2 billion
|
| Issue: | Exchange fund notes
|
| Auction date: | Dec. 17
|
| Settlement date: | Dec. 20
|
|
|
| Bonds due 2015
|
| Amount: | HK$1 billion
|
| Maturity: | Dec. 21, 2015
|
| Coupon: | 1.52%
|
| Price (average): | 98.36
|
| Yield (average): | 1.87%
|
|
|
| Bonds due 2013
|
| Amount: | HK$1.2 billion
|
| Maturity: | Dec. 19, 2013
|
| Coupon: | 1.67%
|
| Price (average): | 101.84
|
| Yield (average): | 1.05%
|
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