The Hong Kong Monetary Authority (HKMA) announces that tender of 7-year Exchange Fund Notes will be held on Wednesday 24 November 2004 for settlement on Thursday 25 November 2004.
An amount of HK$600 million 7-year Notes will be on offer solely for c ompetitive tender. The Notes will mature on 25 November 2011 and will carry interest at the rate of 3.12% 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 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.
The tender results will be published on the HKMA's website, the Reuters screen (HKMAOOE), Bloomberg, the Telerate screen (9913), 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
15 November 2004
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
________________________________________
Tender information of 7-Year Exchange Fund Notes :-
Issue Number : 7111
Stock code : 4130 (EFN 3.12 1111)
Tender Date : Wednesday, 24 November 2004
and Time 9:30 a.m. to 10:30 a.m.
Issue and Settlement : Thursday, 25 November 2004
Date
Amount on Offer : HK$600 million
(solely for competitive
tender)
Maturity : Seven years
Maturity Date : 25 November 2011
Interest Rate : 3.12% p.a.
Interest Payment Dates : 25 May 2005
25 Nov 2005
25 May 2006
27 Nov 2006
25 May 2007
26 Nov 2007
26 May 2008
25 Nov 2008
25 May 2009
25 Nov 2009
25 May 2010
25 Nov 2010
25 May 2011
25 Nov 2011
Tender Amount : 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
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 : 26 November 2004
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
2.12 106.55 3.12 100.15
2.17 106.22 3.17 99.84
2.22 105.89 3.22 99.54
2.27 105.56 3.27 99.23
2.32 105.23 3.32 98.93
2.37 104.90 3.37 98.62
2.42 104.58 3.42 98.32
2.47 104.25 3.47 98.02
2.52 103.93 3.52 97.72
2.57 103.61 3.57 97.42
2.62 103.29 3.62 97.13
2.67 102.97 3.67 96.83
2.72 102.65 3.72 96.54
2.77 102.33 3.77 96.24
2.82 102.02 3.82 95.95
2.87 101.70 3.87 95.66
2.92 101.39 3.92 95.37
2.97 101.08 3.97 95.08
3.02 100.77 4.02 94.79
3.07 100.46 4.07 94.50
3.12 100.15 4.12 94.21
* 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
15 November 2004
