Listing of the
Hong Kong Mortgage Corporation Notes
on the Stock Exchange of Hong Kong and
the Tender for the Eighth Issue of its Notes
The Hong Kong
Monetary Authority (HKMA) announced today the HKMA signed the
Programme, Agency and Operations Agreement in respect of the
HK$20 billion Hong Kong Mortgage Corporation (HKMC) Note Issuance
Programme (NIP) with the HKMC and Bermuda Trust (Far East) Ltd.
The signing marked the completion of the legal documentation
for the listing of HKMC's NIP on the Stock Exchange of Hong
Kong (SEHK). The NIP and its seven outstanding issues (with
an aggregate issue amount of HK$3.5 billion) will be listed
and traded on the SEHK on 22 October 1999.
The HKMA also
announced that the tender for the eighth issue of 2-year HKMC
Notes will be held on Wednesday 27 October 1999.
An amount of HK$500
million in HKMC Notes will be offered for settlement on Thursday
28 October 1999. The 2-year Notes, which mature on 29 October
2001, will carry interest at the fixed rate of 6.65% per annum
payable semi-annually in arrears. The terms and conditions of
the issue are described fully in the Prospectus.
The HK$500 million
HKMC Notes issue is the eighth tranche of the HK$20 billion
HKMC Note Issuance Programme in which the HKMA acts as the arranger,
custodian, agent and operator. The HKMC Notes, which are denominated
in units of HK$50,000, will be cleared through the Central Moneymarkets
Unit (CMU).
The HKMC will
use the proceeds to support its mortgage purchase programme.
Members of the
public who wish to tender for the Notes may do so through any
of the Market Makers or Recognised Dealers on the published
list which can be obtained from the HKMA at 30/F, 3 Garden Road,
Hong Kong (telephone 2878 8150). They may also submit their
tender applications through brokers who are members of the SEHK
via Hong Kong Securities Clearing Company Limited (HKSCC) or,
for those who hold Investor Accounts at HKSCC, directly through
HKSCC. HKSCC will collect tender applications from its participants
and submit them to the HKMA for processing. Each tender must
be for an amount of HK$50,000 or integral multiples thereof.
Hong Kong Monetary Authority
15 October 1999
THE HONG KONG MORTGAGE
CORPORATION LIMITED
NOTE ISSUANCE PROGRAMME
TENDER INFORMATION
Tender information
for the eighth issue of The Hong Kong Mortgage Corporation Ltd
Note Issuance Programme :-
| Issue
Number: |
S204 |
| Stock
Code: |
2550
|
| Tender
Date and Time: |
Wednesday
27 October 1999
9:30 a.m. to 10:30 a.m. |
| Issue
and Settlement Date: |
Thursday
28 October 1999 |
| Aggregate
Principal Amount of Issue: |
Up to
HK$500 million |
Aggregate
Principal Amount of Issue
Reserve for Public Subscription by Non-Competitive Tender
: |
Up to
HK$100 million |
| Maturity: |
Two years |
| Maturity
Date: |
29 October
2001 |
| Interest
Rate: |
6.65%
p.a., payable semi-annually |
| Interest
Payment Dates: |
28 April
2000
30 October 2000
30 April 2001
29 October 2001 |
| Tender
Amount: |
Each
tender must be for an amount of HK$50,000 or integral
multiples thereof. Members of the public who wish to
tender for the Notes may approach Market Makers or Recognised
Dealers on the published list, Hong Kong Securities
Clearing Company Limited, or brokers who are members
of the Stock Exchange of Hong Kong |
| Other
Details: |
Please
see the Prospectus and Supplemental Prospectus published
or approach Market Makers or Recognized Dealers, Hong
Kong Securities Clearing Limited, or brokers who are
members of the Stock Exchange of Hong Kong |
Hong Kong Monetary Authority
15 October 1999
