The Hong Kong Monetary Authority (HKMA) announces that the tender of Exchange Fund Notes with a maturity of 38 months through the reopening of existing 5-year Exchange Fund Notes (issue no. 5603) will be held on Monday, 13 January 2003 for settlement on Tuesday, 14 January 2003.
An additional amount of HK$1,200 million of the outstanding 5-year Notes (issue no. 5603) will be on offer. The Notes will mature on 20 March 2006 and will carry interest at the rate of 5.20% per annum payable semi-annually in arrears. The Notes closed at 108.19 with an annualized yield of 2.54% on 3 January 2003.
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 1465), or from the HKMA's website at http://www.hkma.gov.hk. They may also submit their tender applications through brokers who are Exchange Participants of the Stock Exchange of Hong Kong 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.
Successful bidders of the reopened issue have to pay to the HKMA the respective bid price plus an amount equal to the interest accrued from the last coupon payment date to the allotment date of the reopened issue.
The tender results will be published on the Reuters screen (HKMAOOE), Bloomberg, the Telerate screen (9913), the Bridge News screen and CCASS terminal for CCASS Broker/Custodian/Participants. CCASS Investor Participants can also enquire about the tender results through the CCASS Phone System.
Hong Kong Monetary Authority
6 January 2003
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
______________________________________________________ Tender information of the reopening of 5-Year Exchange Fund Notes :- Issue Number : 5603 Stock code : 4079 (EFN 5.20 0603) Tender Date : Monday, 13 January 2003 and Time 9:30 a.m. to 10:30 a.m. Issue and Settlement : Tuesday, 14 January 2003 Date for tender amount Amount on Offer : HK$1,200 million Maturity : 38 months Maturity Date : 20 March 2006 Interest Rate : 5.20% per annum payable semi-annually in arrears Interest Payment Dates : 19 Mar 2003 19 Sept 2003 19 Mar 2004 20 Sept 2004 21 Mar 2005 19 Sept 2005 20 Mar 2006 Tender Amount : Each tender must be for an amount of HK$50,000 or integral multiples thereof. The accrued interest to be paid by successful bidders on the issue date (14 Jan 2003) for the tender amount is HK$833.42 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). 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 Exchange Participants of the Stock Exchange of Hong Kong Other details : Please see Information Memorandum published or approach Market Makers, Recognised Dealers, Hong Kong Securities Clearing Company Limited, 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 EFN 5603 listed on the Stock of Hong Kong Exchange of Hong Kong Hong Kong Monetary Authority 6 January 2003