Hong Kong to auction RMB 14 billion three-, five-, seven-, 10- and 20-year bonds

By Wendy Van Sickle

Columbus, Ohio, June 23 – The Ministry of Finance of the People’s Republic of China will sell three-year, five-year, seven-year, 10-year and 20-year bonds through the Hong Kong Monetary Authority, according to a government announcement.

A total of RMB 7 billion three-year bonds, RMB 4.5 billion five-year bonds, RMB 1 billion seven-year bonds, RMB 1 billion 10-year bonds and RMB 500 million 20-year bonds will be made available for competitive tender on a coupon-bid basis by qualified central money markets unit members through the CMU BID.

The tender will be held from 9:30 p.m. ET to 10:30 p.m. ET on June 28. Settlement will occur on July 4.

Each series of bonds will bear interest at the highest accepted interest rate for the relevant series determined through the competitive tender.

Each tender must be for RMB 500,000 or integral multiples thereof, and the difference between any specified tender interest rates should be at least 1 basis point.

The tender results will be published on the website of the Hong Kong Monetary Authority (http://www.hkma.gov.hk) and the CMU bond Price Bulletin (https://www.cmu.org.hk).

Bank of Communications Co., Ltd. Hong Kong Branch will administer the tender of the bonds as issuing and lodging agent.

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