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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 10-year Exchange Fund Notes will be held on June 17, 2011 (Friday) for settlement on June 20, 2011 (Monday).
A total of HK$800 million 10-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 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$795 million). The Notes will mature on June 21, 2021 and will carry interest at the rate of 2.31% 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 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 10-Year Exchange Fund Notes :-
Issue Number : 10Y2106
Stock code : 4016 (EFN 2.31 2106)
Tender Date : June 17, 2011 (Friday)
and Time 9.30am to 10.30am
Issue and Settlement : June 20, 2011 (Monday)
Date
Amount on Offer : HK$800 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 : Ten years
Maturity Date : June 21, 2021
Interest Rate : 2.31% p.a.
Interest Payment Dates : December 20, 2011
June 20, 2012
December 20, 2012
June 20, 2013
December 20, 2013
June 20, 2014
December 22, 2014
June 22, 2015
December 21, 2015
June 20, 2016
December 20, 2016
June 20, 2017
December 20, 2017
June 20, 2018
December 20, 2018
June 20, 2019
December 20, 2019
June 22, 2020
December 21, 2020
June 21, 2021
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 : June 21, 2011
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
1.31 109.39 2.31 100.12
1.36 108.90 2.36 99.68
1.41 108.42 2.41 99.24
1.46 107.94 2.46 98.81
1.51 107.46 2.51 98.38
1.56 106.98 2.56 97.95
1.61 106.51 2.61 97.52
1.66 106.03 2.66 97.09
1.71 105.56 2.71 96.67
1.76 105.10 2.76 96.25
1.81 104.63 2.81 95.83
1.86 104.17 2.86 95.41
1.91 103.71 2.91 95.00
1.96 103.25 2.96 94.59
2.01 102.80 3.01 94.18
2.06 102.35 3.06 93.77
2.11 101.90 3.11 93.36
2.16 101.45 3.16 92.96
2.21 101.00 3.21 92.56
2.26 100.56 3.26 92.16
2.31 100.12 3.31 91.76
* 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, June 8, 2011
Issued at HKT 16:41
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