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The Hong Kong Monetary Authority (HKMA) announces that a tender of 10-year Exchange Fund Notes will be held on Tuesday 24 June 2008 for settlement on Wednesday 25 June 2008.
A total of HK$800 million 10-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$795 million). The Notes will mature on 25 June 2018 and will carry interest at the rate of 3.56% 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 10-Year Exchange Fund Notes :-
Issue Number : 10Y1806
Stock code : 4179 (EFN 3.56 1806)
Tender Date : Tuesday, 24 June 2008
and Time 9:30 a.m. to 10:30 a.m.
Issue and Settlement : Wednesday, 25 June 2008
Date
Amount on Offer : HK$800 million
(up to HK$5 million for
non-competitive tender)
Commencement of/ : Please refer to requirements
Deadline for as set down by HKSCC
submission of non-
competitive tender bids
by retail investors
through HKSCC
Maturity : Ten years
Maturity Date : 25 June 2018
Interest Rate : 3.56% p.a.
Interest Payment Dates : 29 Dec 2008
25 Jun 2009
28 Dec 2009
25 Jun 2010
28 Dec 2010
27 Jun 2011
26 Dec 2011
25 Jun 2012
25 Dec 2012
25 Jun 2013
25 Dec 2013
25 Jun 2014
25 Dec 2014
25 Jun 2015
25 Dec 2015
27 Jun 2016
26 Dec 2016
26 Jun 2017
25 Dec 2017
25 Jun 2018
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 : 26 June 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
2.56 108.92 3.56 100.26
2.61 108.47 3.61 99.85
2.66 108.02 3.66 99.44
2.71 107.57 3.71 99.03
2.76 107.12 3.76 98.63
2.81 106.67 3.81 98.23
2.86 106.23 3.86 97.83
2.91 105.79 3.91 97.43
2.96 105.35 3.96 97.03
3.01 104.92 4.01 96.64
3.06 104.48 4.06 96.25
3.11 104.05 4.11 95.86
3.16 103.62 4.16 95.47
3.21 103.19 4.21 95.08
3.26 102.77 4.26 94.70
3.31 102.34 4.31 94.31
3.36 101.92 4.36 93.93
3.41 101.50 4.41 93.55
3.46 101.09 4.46 93.18
3.51 100.67 4.51 92.80
3.56 100.26 4.56 92.43
* 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/Friday, June 13, 2008
Issued at HKT 16:30
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