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Tender results of re-opening of 15-year Government Bonds under Institutional Bond Issuance Programme

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority, as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced that a tender of 15-year Government Bonds through the re-opening of existing 15-year Government Bond (issue number 15GB3801) under the Institutional Bond Issuance Programme was held today (December 13). 
      
     A total of HK$0.5 billion 15-year Government Bonds were offered today. A total of HK$2.510 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of the amount of bonds applied for over the amount of bonds issued, is 5.02. The average price accepted is 95.28, implying an annualised yield of 4.231%. 

HKSAR Government Institutional Bond Issuance Programme Government Bond tender results
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     Tender results of the re-opening of 15-year Government Bonds under the Institutional Bond Issuance Programme:
 

Tender Date  : December 13, 2023
Issue Number  : 15GB3801 (Re-open)
Stock Code  : 4258 (HKGB 3.74 3801)
Issue and Settlement Date  : December 14, 2023
Tenor  : 15-year
Maturity Date  : January 12, 2038
Coupon Rate : 3.74%
Amount Applied  : HK$2.510 billion
Amount Allotted  : HK$0.5 billion
Bid-to-Cover Ratio*  : 5.02
Average Price Accepted (Yield)  : 95.28 (4.231%)
Lowest Price Accepted (Yield)  : 94.62 (4.297%)
Pro-rata Ratio : About 40% 
Average Tender Price (Yield) : 93.62 (4.398%)

 
* Ratio of the amount of bonds applied for over the amount of bonds issued.

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Hong Kong Customs raids two suspected illicit cigarette storage centres and seizes tobacco products worth about $14 million (with photos)

     â€‹Hong Kong Customs yesterday (September 18) conducted anti-illicit cigarette operations in Yuen Long and Tin Shui Wai, and raided two suspected illicit cigarette storage centres. A total of about 3.6 million suspected illicit cigarettes and about 130 kilograms of suspected duty-not-paid manufactured tobacco, with a total estimated market value of about $14 million and a duty potential of about $9.6 million, were seized.

     In the first case, Customs officers raided a metal hut on Kung Um Road, Yuen Long, yesterday at noon and seized about 1.7 million suspected illicit cigarettes therein. Upon a follow-up investigation, a 29-year-old woman who is suspected to be connected with the case was arrested at night. She was the tenant of the metal hut.

     In the second case, Customs officers yesterday afternoon seized about 1.9 million suspected illicit cigarettes and about 130kg of suspected duty-not-paid manufactured tobacco inside a metal hut in Ha San Wai Tsuen, Tin Shui Wai, successfully smashing another suspected illicit cigarette storage centre. A 43-year-old man, who claimed to be a warehouse keeper and is suspected to be connected with the case, was arrested.

     The above two cases are still under investigation. Customs believes that syndicates were trying to store a large number of illicit cigarettes before the Mid-Autumn Festival and the National Day holidays to meet the increasing demand during the long holidays, and smuggle the illicit cigarettes to overseas regions. 

     Customs will continue to combat illicit cigarette activities on all fronts through a multi-pronged approach.

     Customs stresses that it is an offence to buy or sell illicit cigarettes. Under the Dutiable Commodities Ordinance, anyone involved in dealing with, possession of, selling or buying illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $1 million and imprisonment for two years.

     Members of the public may report any suspected illicit cigarette activities to Customs’ 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002/).

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