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The following is issued on behalf of the The Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announces that a tender of 5-year Exchange Fund Notes will be held on June 13, 2008 (Friday) for settlement on June 16, 2008 (Monday).
A total of HK$1,000 million 5-year Notes will be on offer, of which HK$5 million will be made available for offer to members of the Public who wish to submit non-competitive tender bids through Hong Kong Securities Clearing Company Limited (HKSCC). If the amount of Notes reserved for non-competitive tender is under-subscribed, the non-subscribed amount will be added to the portion of notes for competitive tender (initially set at HK$995 million). The Notes will mature on June 17, 2013 and will carry interest at the rate of 2.88% per annum payable semi-annually in arrears.
Members of the public who wish to submit non-competitive tender applications for Notes that are open to HKSCC may do so through Stock Exchange Participants/Brokers, or for those who hold Investor Accounts of the Central Clearing and Settlement System (CCASS) at the HKSCC, directly through HKSCC, for submission to the HKMA for processing. Competitive tender applications for the Notes must be submitted through any of the Eligible Market Makers on the current published list, which can be obtained from the HKMA at 55/F, Two International Finance Centre, 8 Finance Street, Central, Hong Kong (telephone 2878 1465), or from the HKMA's website at http://www.hkma.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-competitive tender.
The tender results will be published on the HKMA's website, the Reuters screen (HKMAOOE) and Bloomberg. Applicants who submitted non-competitive tender bids through HKSCC may also obtain the tender results from Stock Exchange Participants/Brokers, or for applicants who hold Investor Accounts at HKSCC's CCASS from the CCASS terminal for CCASS Broker/Custodian/Participants and CCASS Phone System.
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
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Tender information of 5-Year Exchange Fund Notes :-
Issue Number : 05Y1306
Stock code : 4178 (EFN 2.88 1306)
Tender Date : June 13, 2008 (Friday)
and Time 9.30 am to 10.30 am
Issue and Settlement : June 16, 2008 (Monday)
Date
Amount on Offer : HK$1,000 million
(up to HK$5 million for
non-competitive tender)
Commencement of/ : Please refer to
Deadline for requirements
submission of non- as set down by HKSCC
competitive tender bids
by retail investors
through HKSCC
Maturity : Five years
Maturity Date : June 17, 2013
Interest Rate : 2.88% p.a.
Interest Payment : Dec 16, 2008
Dates Jun 16, 2009
Dec 16, 2009
Jun 16, 2010
Dec 16, 2010
Jun 16, 2011
Dec 16, 2011
Jun 18, 2012
Dec 17, 2012
Jun 17, 2013
Tender Amount : Each tender must be for an
amount of HK$50,000 or
integral multiples thereof
for both competitive and non-
competitive tender. Members
of the public who wish to
apply for the Notes through
non-competitive tenders that
are open to HKSCC may do so
through Stock Exchange
Participants/Brokers, or for
those who hold Investor
Accounts at HKSCC's CCASS,
directly through HKSCC.
Members of the public who
wish to apply for the Notes
through competitive tender
may only do so through any of
the Eligible Market Makers on
the current published list.
Other details : Please see Information
Memorandum published or
approach Eligible Market
Makers, HKSCC, or brokers who
are Exchange Participants of
the Stock Exchange of Hong
Kong
Expected commencement: June 17, 2008
date of dealing on
the Stock Exchange
of Hong Kong
Price/Yield Table of the new EFN at tender for
reference* only :-
Yield-to-Maturity Price Yield-to-Maturity Price
1.88 104.79 2.88 100.09
1.93 104.55 2.93 99.87
1.98 104.31 2.98 99.64
2.03 104.07 3.03 99.41
2.08 103.83 3.08 99.19
2.13 103.59 3.13 98.96
2.18 103.36 3.18 98.74
2.23 103.12 3.23 98.51
2.28 102.88 3.28 98.29
2.33 102.65 3.33 98.07
2.38 102.41 3.38 97.84
2.43 102.18 3.43 97.62
2.48 101.94 3.48 97.40
2.53 101.71 3.53 97.18
2.58 101.48 3.58 96.96
2.63 101.24 3.63 96.74
2.68 101.01 3.68 96.52
2.73 100.78 3.73 96.31
2.78 100.55 3.78 96.09
2.83 100.32 3.83 95.87
2.88 100.09 3.88 95.66
* Disclaimer
The information provided here is for reference only
Although extreme care has been taken to ensure that
the information provided is accurate and up-to-date,
the HKMA does not warrant that all, or any part of,
the information provided is accurate in all respects.
You are encouraged to conduct your own enquiries to
verify any particular piece of information provided
on it. The HKMA shall not be liable for any loss or
damage suffered as a result of any use or reliance
on any of the information provided here.
Ends/Tuesday, June 3, 2008
Issued at HKT 16:32
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