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The Hong Kong Monetary Authority (HKMA) announced today (June 26) the tender for the sixth issue of the Airport Authority (AA) Notes to be held on June 30 2000 (Friday).

An amount of HK$500 million in AA Notes will be offered for settlement on Monday July 3 2000. The 2-year Notes, which mature on July 3 2002, will carry interest at the fixed rate of 6.90% per annum payable semi-annually in arrears. Terms and conditions of the issue are described fully in the Information Memorandum.

The HK$500 million AA Notes issue is the sixth tranche of the HK$5 billion AA Note Issuance Programme in which the HKMA acts as the arranger, custodian, agent and operator. The AA Notes, which are denominated in HK$50,000, will be cleared through the Central Moneymarkets Unit (CMU).

The AA Notes will be covered by the existing market-making arrangements for the Exchange Fund Bills and Notes. Under the Programme, the AA Notes will be sold from time to time by tender to a group of Market Makers and Recognised Dealers appointed by the HKMA.

Under the short selling arrangement, Market Makers of Exchange Fund, MTRC, HKMC and AA papers can go short in any issues of such papers provided they hold sufficient amount of other Exchange Fund, MTRC, HKMC or AA papers in the system to cover their short positions by entering into a repo transaction with the HKMA at the end of the day. In return the Market Makers are obliged to quote two-way (bid-ask) prices during normal money market hours.

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 (or telephone 2878 8150). Each tender must be for an amount of HK$50,000 or integral multiples thereof.

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AIRPORT AUTHORITY

NOTE ISSUANCE PROGRAMME

TENDER INFORMATION

Tender information for the sixth issue of Airport Authority Note Issuance Programme :-

Issue Number         : A202



Tender Date and Time : 	Friday June 30 2000

                            9:30 a.m. to 10:30 a.m.



Issue and Settlement Date  : Monday July 3 2000



Amount on Offer  : HK$500 million



Maturity  : Two years



Maturity Date  : July 3 2002



Interest Rate	  : 6.90 per cent per annum



Interest Payment Dates  : January 3 2001	

                               July 3 2001

                               January 3 2002

                               July 3 2002

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

Other details : Please see Information Memorandum published or approach Market Makers or Recognised Dealers

End/Monday, June 26 2000

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