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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announces that a tender of 15-year Exchange Fund Notes (EFN) will be held on August 19, 2010 (Thursday) for settlement on August 20, 2010 (Friday).
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 20, 2025 and will carry interest at the rate of 2.39% 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 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 submit 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 : 15Y2508
Stock code : 4006 (EFN 2.39 2508)
Tender Date : August 19, 2010 (Thursday)
and Time 9.30am to 10.30am
Issue and Settlement : August 20, 2010 (Friday)
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 20, 2025
Interest Rate : 2.39% p.a.
Interest Payment Dates : February 21, 2011
August 22, 2011
February 20, 2012
August 20, 2012
February 20, 2013
August 20, 2013
February 20, 2014
August 20, 2014
February 20, 2015
August 20, 2015
February 22, 2016
August 22, 2016
February 20, 2017
August 21, 2017
February 20, 2018
August 20, 2018
February 20, 2019
August 20, 2019
February 20, 2020
August 20, 2020
February 22, 2021
August 20, 2021
February 21, 2022
August 22, 2022
February 20, 2023
August 21, 2023
February 20, 2024
August 20, 2024
February 20, 2025
August 20, 2025
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 23, 2010
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
1.39 113.57 2.39 100.18
1.44 112.85 2.44 99.56
1.49 112.14 2.49 98.94
1.54 111.43 2.54 98.33
1.59 110.73 2.59 97.73
1.64 110.03 2.64 97.13
1.69 109.34 2.69 96.53
1.74 108.65 2.74 95.94
1.79 107.97 2.79 95.35
1.84 107.29 2.84 94.77
1.89 106.62 2.89 94.19
1.94 105.96 2.94 93.61
1.99 105.30 2.99 93.04
2.04 104.64 3.04 92.48
2.09 103.99 3.09 91.91
2.14 103.34 3.14 91.36
2.19 102.70 3.19 90.80
2.24 102.06 3.24 90.25
2.29 101.43 3.29 89.71
2.34 100.80 3.34 89.16
2.39 100.18 3.39 88.63
* 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/Wednesday, August 11, 2010
Issued at HKT 16:17
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