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.
5806) will be held on Friday, 22 April 2005 for settlement on
Monday, 25 April 2005.
An additional amount of HK$1,200 million of the outstanding
5-year Notes (issue no. 5806) will be on offer. The Notes will
mature on 16 June 2008 and carry interest at the rate of 2.47% per
annum payable semi-annually in arrears. The Notes closed at 97.24
with an annualized yield of 3.42% on 12 April 2005.
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) 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
13 April 2005
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
________________________________________
Tender information of the reopening of 5-Year Exchange Fund Notes :-
Issue Number : 5806
Stock code : 4111 (EFN 2.47 0806)
Tender Date : Friday, 22 April 2005
and Time 9:30 a.m. to 10:30 a.m.
Issue and Settlement : Monday, 25 April 2005
Date for tender amount
Amount on Offer : HK$1,200 million
(solely for competitive
tender)
Maturity : 38 months
Maturity Date : 16 June 2008
Interest Rate : 2.47% per annum payable
semi-annually in arrears
Interest Payment Dates : 16 Jun 2005
16 Dec 2005
16 Jun 2006
18 Dec 2006
18 Jun 2007
17 Dec 2007
16 Jun 2008
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 (25 April
2005) for the tender amount
is HK$439.86 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 5806 listed on the Stock
of Hong Kong Exchange of Hong Kong.
Hong Kong Monetary Authority
13 April 2005
Price/Yield Table of the new EFN at tender for reference* only :-
Yield-to-Maturity Price Yield-to-Maturity Price
2.42 100.19 3.42 97.27
2.47 100.04 3.47 97.13
2.52 99.89 3.52 96.98
2.57 99.74 3.57 96.84
2.62 99.60 3.62 96.70
2.67 99.45 3.67 96.56
2.72 99.30 3.72 96.42
2.77 99.15 3.77 96.27
2.82 99.01 3.82 96.13
2.87 98.86 3.87 95.99
2.92 98.72 3.92 95.85
2.97 98.57 3.97 95.71
3.02 98.42 4.02 95.57
3.07 98.28 4.07 95.43
3.12 98.13 4.12 95.29
3.17 97.99 4.17 95.15
3.22 97.84 4.22 95.02
3.27 97.70 4.27 94.88
3.32 97.56 4.32 94.74
3.37 97.41 4.37 94.60
3.42 97.27 4.42 94.46
* 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
13 April 2005
