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The following is issued on behalf of Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announces that a tender of 15-year Exchange Fund Notes will be held on August 26, 2008 (Tuesday) for settlement on August 27, 2008 (Wednesday).
A total of HK$600 million 15-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$595 million). The Notes will mature on August 28, 2023 and will carry interest at the rate of 3.27% 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 15-Year Exchange Fund Notes :-
Issue Number : 15Y2308
Stock code : 4181 (EFN 3.27 2308)
Tender Date : Tuesday, August 26,2008
and Time 9.30am to 10.30am
Issue and Settlement : Wednesday, August 27,2008
Date
Amount on Offer : HK$600 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 : Fifteen years
Maturity Date : August 28,2023
Interest Rate : 3.27% p.a.
Interest Payment Dates : Feb 27,2009
Aug 27,2009
Mar 1,2010
Aug 27,2010
Feb 28,2011
Aug 29,2011
Feb 27,2012
Aug 27,2012
Feb 27,2013
Aug 27,2013
Feb 27,2014
Aug 27,2014
Feb 27,2015
Aug 27,2015
Feb 29,2016
Aug 29,2016
Feb 27,2017
Aug 28,2017
Feb 27,2018
Aug 27,2018
Feb 27,2019
Aug 27,2019
Feb 27,2020
Aug 27,2020
Mar 1,2021
Aug 27,2021
Feb 28,2022
Aug 29,2022
Feb 27,2023
Aug 28,2023
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 : August 28,2008
date of dealing on
the Stock Exchange
of Hong Kong
Price/Yield Table of the new EFN at tender for reference* only :-
Yield-to Price Yield-to Price
-Maturity -Maturity
2.27 112.83 3.27 100.31
2.32 112.16 3.32 99.73
2.37 111.49 3.37 99.15
2.42 110.83 3.42 98.58
2.47 110.18 3.47 98.02
2.52 109.53 3.52 97.45
2.57 108.88 3.57 96.89
2.62 108.24 3.62 96.34
2.67 107.60 3.67 95.79
2.72 106.97 3.72 95.24
2.77 106.34 3.77 94.69
2.82 105.72 3.82 94.15
2.87 105.10 3.87 93.62
2.92 104.49 3.92 93.09
2.97 103.88 3.97 92.56
3.02 103.27 4.02 92.03
3.07 102.67 4.07 91.51
3.12 102.08 4.12 90.99
3.17 101.48 4.17 90.48
3.22 100.89 4.22 89.97
3.27 100.31 4.27 89.46
* 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, August 15, 2008
Issued at HKT 16:46
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