The Hong Kong Monetary Authority (HKMA) announces that tender of 7-year Exchange Fund Notes will be held on Tuesday, 19 August 2003 for settlement on Wednesday, 20 August 2003.
An amount of HK$600 million 7-year Notes will be on offer solely for competitive tender. The Notes will mature on 20 August 2010 and will carry interest at the rate of 3.92% per annum payable semi-annually in arrears.
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.
The tender results will be published on the HKMA's website, 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.
Annex: Tender Information of 7-Year Exchange Fund Notes
Hong Kong Monetary Authority
8 August 2003
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
______________________________________________________
Tender information of 7-Year Exchange Fund Notes :-
Issue Number
Stock code
Tender Date
and Time
Issue and Settlement Date
Amount on Offer
Maturity
Maturity Date
Interest Rate
Interest Payment Dates
Tender Amount
Other details
Expected commencement date
of dealing on the
Stock Exchange of Hong Kong
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7008
4113 (EFN 3.92 1008)]
Tuesday, 19 August 2003
9:30 a.m. to 10:30 a.m.
Wednesday, 20 August 2003
$600 million
(solely for competitive tender)
Seven Years
20 August 2010
3.92% p.a.
20 Feb 2004
20 Aug 2004
21 Feb 2005
22 Aug 2005
20 Feb 2006
21 Aug 2006
20 Feb 2007
20 Aug 2007
20 Feb 2008
20 Aug 2008
20 Feb 2009
20 Aug 2009
22 Feb 2010
20 Aug 2010
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, Hong Kong
Securities Clearing Company Limited,
or brokers who are Exchange
Participants of the Stock Exchange
of Hong Kong
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
21 August 2003
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Price/Yield Table of the new EFN at tender for reference* only:
| Yield-to-Maturity |
Price |
Yield-to-Maturity |
Price |
| 2.92 |
106.43 |
3.92 |
100.23 |
| 2.97 |
106.11 |
3.97 |
99.93 |
| 3.02 |
105.79 |
4.02 |
99.63 |
| 3.07 |
105.47 |
4.07 |
99.34 |
| 3.12 |
105.15 |
4.12 |
99.04 |
| 3.17 |
104.83 |
4.17 |
98.75 |
| 3.22 |
104.52 |
4.22 |
98.46 |
| 3.27 |
104.20 |
4.27 |
98.17 |
| 3.32 |
103.89 |
4.32 |
97.88 |
| 3.37 |
103.58 |
4.37 |
97.59 |
| 3.42 |
103.27 |
4.42 |
97.30 |
| 3.47 |
102.96 |
4.47 |
97.01 |
| 3.52 |
102.65 |
4.52 |
96.72 |
| 3.57 |
102.35 |
4.57 |
96.44 |
| 3.62 |
102.04 |
4.62 |
96.16 |
| 3.67 |
101.74 |
4.67 |
95.87 |
| 3.72 |
101.43 |
4.72 |
95.59 |
| 3.77 |
101.13 |
4.77 |
95.31 |
| 3.82 |
100.83 |
4.82 |
95.03 |
| 3.87 |
100.53 |
4.87 |
94.75 |
| 3.92 |
100.23 |
4.92 |
94.47 |
* 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.
Hong Kong Monetary Authority
8 August 2003
