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.
5712) will be held on Monday, 25 October 2004 for settlement on
Tuesday, 26 October 2004.
An additional amount of HK$1,200 million of the outstanding
5-year Notes (issue no. 5712) will be on offer. The Notes will
mature on 17 December 2007 and carry interest at the rate of 3.57%
per annum payable semi-annually in arrears. The Notes closed at
103.93 with an annualized yield of 2.29% on 12 October 2004.
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 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. 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 HKMA's website, the
Reuters screen (HKMAOOE), Bloomberg, the Telerate screen (9913),
the Bridge News Broker/Custodian/Participants. CCASS Investor
Participants can also enquire about the tender results through the
CCASS Phone System.
Hong Kong Monetary Authority
13 October 2004
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
________________________________________
Tender information of the reopening of 5-Year Exchange Fund Notes :-
Issue Number : 5712
Stock code : 4104 (EFN 3.57 0712)
Tender Date : Monday, 25 October 2004
and Time 9:30 a.m. to 10:30 a.m.
Issue and Settlement : Tuesday, 26 October 2004
Date for tender amount
Amount on Offer : HK$1,200 million
Maturity : 38 months
Maturity Date : 17 December 2007
(solely for competitive
tender)
Interest Rate : 3.57% per annum payable
semi-annually in arrears
Interest Payment Dates : 16 Dec 2004
16 Jun 2005
16 Dec 2005
16 Jun 2006
18 Dec 2006
18 Jun 2007
17 Dec 2007
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 (26 October
2004) for the tender amount
is HK$645.53 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 5712 listed on the Stock
of Hong Kong Exchange of Hong Kong
Hong Kong Monetary Authority
13 October 2004
