By Richard Connell
New York, June 11 - The Hong Kong Monetary Authority announced the results of its auction of HK$2.2 billion of exchange fund notes held on Friday.
Hong Kong auctioned HK$1 billion of 1.65% exchange fund notes due June 15, 2015 at an average yield of 1.71%.
The average accepted price was 99.74, and the lowest accepted price was 99.6.
A total of HK$3.02 billion of demand was received in competitive bids for the sale, of which HK$999.5 million was accepted.
Non-competitive bids were accepted for HK$0.5 million at the price of 99.6 to yield 1.74%.
In a second tranche, Hong Kong auctioned HK$1.2 billion in a reopening of its 2.88% notes due June 17, 2013 at an average yield of 1.16%.
The average accepted price was 105.08, and the lowest accepted price was 105.05.
A total of HK$6.22 billion of demand was received for the sale.
Issuer: | Hong Kong Monetary Authority
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Total amount: | HK$2.2 billion
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Issue: | Exchange fund notes
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Auction date: | June 11
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Settlement date: | June 14
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Bonds due 2015
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Amount: | HK$1 billion
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Maturity: | June 15, 2015
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Coupon: | 1.65%
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Price (average): | 99.74
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Yield (average): | 1.71%
|
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Bonds due 2013
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Amount: | HK$1.2 billion
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Maturity: | June 17, 2013
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Coupon: | 2.88%
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Price (average): | 105.08
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Yield (average): | 1.16%
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