The Hong Kong Monetary Authority (HKMA) announces that a tender of Exchange Fund Notes with a maturity of 36 months through the reopening of existing 5-year Exchange Fund Notes (issue no. 5909) will be held on Friday, 15 September 2006 for settlement on Monday, 18 September 2006.
An additional amount of HK$1,200 million of the outstanding 5-year Notes (issue no. 5909) will be on offer. The Notes will mature on 28 September 2009 and carry interest at the rate of 3.18% per annum payable semi-annually in arrears. The Notes closed at 97.98 with an annualized yield of 3.92% on 4 September 2006.
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
6 September 2006
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
______________________________________________________
Tender information of the reopening of 5-Year Exchange Fund Notes :-
Issue Number : 5909
Stock code : 4128 (EFN 3.18 0909)
Tender Date : Friday, 15 September 2006
and Time 9:30 a.m. to 10:30 a.m.
Issue and Settlement : Monday, 18 September 2006
Date for tender amount
Amount on Offer : HK$1,200 million
(solely for competitive
tender)
Maturity : 36 months
Maturity Date : 28 September 2009
Interest Rate : 3.18% per annum payable
semi-annually in arrears
Interest Payment Dates : 27 Sept 2006
27 Mar 2007
27 Sept 2007
27 Mar 2008
29 Sept 2008
27 Mar 2009
28 Sept 2009
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 (18 Sept 2006)
for the tender amount is
HK$762.33 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 5909 listed on the Stock
of Hong Kong Exchange of Hong Kong
Hong Kong Monetary Authority
6 September 2006
Price/Yield Table of the reopening of EFN at tender for reference* only :-
Yield-to-Maturity Price Yield-to-Maturity Price
2.92 100.81 3.92 98.01
2.97 100.67 3.97 97.88
3.02 100.52 4.02 97.74
3.07 100.38 4.07 97.60
3.12 100.24 4.12 97.47
3.17 100.10 4.17 97.33
3.22 99.96 4.22 97.20
3.27 99.82 4.27 97.06
3.32 99.68 4.32 96.93
3.37 99.54 4.37 96.79
3.42 99.40 4.42 96.66
3.47 99.26 4.47 96.52
3.52 99.12 4.52 96.39
3.57 98.98 4.57 96.25
3.62 98.84 4.62 96.12
3.67 98.70 4.67 95.99
3.72 98.56 4.72 95.86
3.77 98.43 4.77 95.72
3.82 98.29 4.82 95.59
3.87 98.15 4.87 95.46
3.92 98.01 4.92 95.33
* 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
6 September 2006
