By Richard Connell
New York, Sept. 17 - The Hong Kong Monetary Authority announced the results of its auction of HK$2.2 billion of exchange fund notes held on Friday.
In the first tranche, Hong Kong sold HK$1 billion of 1.18% exchange fund notes due Sept. 21, 2015 at an average accepted yield of 1.23%.
The average accepted price was 99.79, and the lowest accepted price was 99.65.
A total of HK$5.38 billion of demand was received for this sale, and the pro rata ratio was about 35%.
Hong Kong also sold a HK$1.2 billion add-on to its 2.54% exchange fund notes due Sept. 25, 2013 at an average accepted yield of 0.69%.
The average accepted price was 105.5, and the lowest accepted price was 105.4.
A total of HK$3.46 billion of demand was received for this sale, and the pro rata ratio was about 13%.
Issuer: | Hong Kong Monetary Authority
|
Total amount: | HK$2.2 billion
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Issue: | Exchange fund notes
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Auction date: | Sept. 17
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Settlement date: | Sept. 20
|
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Bonds due 2015
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Amount: | HK$1 billion
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Maturity: | Sept. 21, 2015
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Coupon: | 1.18%
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Price (average): | 99.79
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Yield (average): | 1.23%
|
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Bonds due 2013
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Amount: | HK$1.2 billion
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Maturity: | Sept. 25, 2013
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Coupon: | 2.54%
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Price (average): | 105.5
|
Yield (average): | 0.69%
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