************************************************************
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announces that the tender of Exchange Fund Notes with a maturity of 36 months through the reopening of existing five-year Exchange Fund Notes (issue no. 05Y1303) will be held on Friday, March 19, 2010 for settlement on Monday, March 22, 2010.
An additional amount of HK$1,200 million of the outstanding five-year Notes (issue no. 05Y1303) will be on offer, of which five million Hong Kong dollars 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 Notes reserved for non-competitive tender are under-subscribed, the non-subscribed amount will be added to the portion of notes for competitive tender (initially set at HK$1,195 million). The Notes will mature on 18 March 2013 and carry interest at the rate of 2.03% per annum payable semi-annually in arrears. The Notes Fixings on 9 March 2010 was 102.88 with an annualized yield of 1.07%.
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 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 submit non-competitive tender bids through HKSCC may also obtain the tender results from Stock Exchange Participants/Brokers, or for applicants holding 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
______________________________________________________
Tender information of the reopening of Five-Year Exchange Fund Notes :-
Issue Number : 05Y1303
Stock code : 4176 (EFN 2.03 1303)
Tender Date : Friday, March 19, 2010
and Time 9.30am to 10.30 am
Issue and Settlement : Monday, March 22, 2010
Date for tender amount
Amount on Offer : HK$1,200 million
(up to five million
Hong Kong dollars for
non-competitive tender)
Commencement of/ : Please refer to
Deadline for submission requirements
of non-competitive as set down by HKSCC
tender bids by retail
investor through HKSCC
Maturity : 36 months
Maturity Date : March 18, 2013
Interest Rate : 2.03% per annum payable
semi-annually in arrears
Interest Payment Dates : September 17, 2010
March 17, 2011
September 19, 2011
March 19, 2012
September 17, 2012
March 18, 2013
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 holding Investor
Accounts at HKSCC's CCASS,
directly through HKSCC.
Members of the public who
wish to apply for the Notes
through competitive tender
may do so through any of the
Eligible Market Makers on
the current published list.
The accrued interest to be
paid by successful bidders
on the issue date
(March 22, 2010) for the
tender amount is
HK$13.90 per minimum
denomination of HK$50,000.
(The accrued interest to be
paid for tender amount
exceeding HK$50,000 may not
be exactly equal to the
figures calculated from the
accrued interest per minimum
denomination of HK$50,000,
due to rounding error).
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 : The tender amount is fully
date of dealing on fungible with the existing
the Stock Exchange 05Y1303 listed on the Stock
of Hong Kong Exchange of Hong Kong
Price/Yield Table of the reopening of EFN at tender for reference* only :-
Yield-to-Maturity Price Yield-to-Maturity Price
0.07 105.85 1.07 102.83
0.12 105.70 1.12 102.68
0.17 105.54 1.17 102.53
0.22 105.39 1.22 102.38
0.27 105.24 1.27 102.23
0.32 105.08 1.32 102.09
0.37 104.93 1.37 101.94
0.42 104.78 1.42 101.79
0.47 104.63 1.47 101.65
0.52 104.47 1.52 101.50
0.57 104.32 1.57 101.36
0.62 104.17 1.62 101.21
0.67 104.02 1.67 101.07
0.72 103.87 1.72 100.92
0.77 103.72 1.77 100.78
0.82 103.57 1.82 100.63
0.87 103.42 1.87 100.49
0.92 103.27 1.92 100.34
0.97 103.12 1.97 100.20
1.02 102.97 2.02 100.06
1.07 102.83 2.07 99.92
* 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, March 10, 2010
Issued at HKT 12:15
NNNN