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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 5-year Exchange Fund Notes (issue no. 05Y1503) will be held on March 16, 2012 (Friday) for settlement on March 19, 2012 (Monday).
An additional amount of HK$1,200 million of the outstanding 5-year Notes (issue no. 05Y1503) will be on offer, of which HK$5 million will be made available for offer to member 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 March 23, 2015 and carry interest at the rate of 1.75% per annum payable semi-annually in arrears. The Notes Fixings on March 5, 2012 was 104.41 with an annualised yield of 0.30%.
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 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
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Tender information of the reopening of 5-Year Exchange Fund Notes :
Issue Number : 05Y1503
Stock code : 4001 (EFN 1.75 1503)
Tender Date : March 16, 2012 (Friday)
and Time 9.30am to 10.30am
Issue and Settlement : March 19, 2012 (Monday)
Date for tender amount
Amount on Offer : HK$1,200 million
(up to HK$5 million for non-
competitive tender)
Commencement of/ : Please refer to
Deadline for submission requirements as set down
of non-competitive by HKSCC
tender bids by retail
investor through HKSCC
Maturity : 36 months
Maturity Date : March 23, 2015
Interest Rate : 1.75% per annum payable
semi-annually in arrears
Interest Payment Dates : March 22, 2012
September 24, 2012
March 22, 2013
September 23, 2013
March 24, 2014
September 22, 2014
March 23, 2015
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 19, 2012) for the
tender amount is HK$429.11
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 05Y1503 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- Price Yield-to- Price
Maturity Maturity
-0.70 107.42 0.30 104.35
-0.65 107.26 0.35 104.19
-0.60 107.11 0.40 104.04
-0.55 106.95 0.45 103.89
-0.50 106.79 0.50 103.73
-0.45 106.64 0.55 103.58
-0.40 106.48 0.60 103.43
-0.35 106.33 0.65 103.28
-0.30 106.17 0.70 103.13
-0.25 106.02 0.75 102.98
-0.20 105.86 0.80 102.83
-0.15 105.71 0.85 102.68
-0.10 105.56 0.90 102.53
-0.05 105.40 0.95 102.38
0.00 105.27 1.00 102.23
0.05 105.12 1.05 102.08
0.10 104.96 1.10 101.93
0.15 104.81 1.15 101.78
0.20 104.65 1.20 101.63
0.25 104.50 1.25 101.49
0.30 104.35 1.30 101.34
* 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 7, 2012
Issued at HKT 16:35
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