The Hong Kong Monetary Authority (HKMA) announces that a tender of 15-year Exchange Fund Notes will be held on Tuesday 28 August 2007 for settlement on Wednesday 29 August 2007.
A total of HK$600 million 15-year Notes will be on offer, of which HK$5 million will be made available for offer to members of the public who wish to submit non-competitive tender bids through Hong Kong Securities Clearing Company Limited (HKSCC). If the amount of Notes reserved for non-competitive tender is under-subscribed, the non-subscribed amount will be added to the portion of notes for competitive tender (initially set at HK$595 million). The Notes will mature on 29 August 2022 and will carry interest at the rate of 4.65% per annum payable semi-annually in arrears.
Members of the public who wish to submit non-competitive tender applications for Notes that are open to HKSCC may do so through Stock Exchange Participants/Brokers, or for those who hold Investor Accounts of the Central Clearing and Settlement System (CCASS) at the HKSCC, directly through HKSCC, for submission to the HKMA for processing. Competitive tender applications for the Notes must be submitted through any of the Eligible Market Makers on the current 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. Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-competitive tender.
The tender results will be published on the HKMA's website, the Reuters screen (HKMAOOE) and Bloomberg. Applicants who submitted non-competitive tender bids through HKSCC may also obtain the tender results from Stock Exchange Participants/Brokers, or for applicants who hold Investor Accounts at HKSCC's CCASS from the CCASS terminal for CCASS Broker/Custodian/Participants and CCASS Phone System.
Hong Kong Monetary Authority
17 August 2007
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
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Tender information of 15-Year Exchange Fund Notes :- Issue Number : 15Y2208 Stock code : 4169 (EFN 4.65 2208) Tender Date : Tuesday, 28 August 2007 and Time 9:30 a.m. to 10:30 a.m. Issue and Settlement : Wednesday, 29 August 2007 Date Amount on Offer : HK$600 million (up to HK$5 million for non-competitive tender) Commencement of/ : Please refer to requirements Deadline for : as set down by HKSCC submission of non- competitive tender bids by retail investors through HKSCC Maturity : Fifteen years Maturity Date : 29 August 2022 Interest Rate : 4.65% p.a. Interest Payment Dates : 29 Feb 2008 29 Aug 2008 2 Mar 2009 31 Aug 2009 1 Mar 2010 30 Aug 2010 1 Mar 2011 29 Aug 2011 29 Feb 2012 29 Aug 2012 1 Mar 2013 29 Aug 2013 3 Mar 2014 29 Aug 2014 2 Mar 2015 31 Aug 2015 29 Feb 2016 29 Aug 2016 1 Mar 2017 29 Aug 2017 1 Mar 2018 29 Aug 2018 1 Mar 2019 29 Aug 2019 2 Mar 2020 31 Aug 2020 1 Mar 2021 30 Aug 2021 1 Mar 2022 29 Aug 2022 Tender Amount : Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non- competitive tender. Members of the public who wish to apply for the Notes through non-competitive tenders that are open to HKSCC may do so through Stock Exchange Participants/Brokers, or for those who hold Investor Accounts at HKSCC's CCASS, directly through HKSCC. Members of the public who wish to apply for the Notes through competitive tender may only do so through any of the Eligible Market Makers on the current published list. Other details : Please see Information Memorandum published or approach Eligible Market Makers, HKSCC, or brokers who are Exchange Participants of the Stock Exchange of Hong Kong Expected commencement : 30 August 2007 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 3.65 111.87 4.65 100.57 3.70 111.27 4.70 100.04 3.75 110.67 4.75 99.52 3.80 110.08 4.80 99.00 3.85 109.49 4.85 98.49 3.90 108.90 4.90 97.98 3.95 108.32 4.95 97.47 4.00 107.74 5.00 96.96 4.05 107.16 5.05 96.46 4.10 106.59 5.10 95.96 4.15 106.03 5.15 95.47 4.20 105.46 5.20 94.98 4.25 104.90 5.25 94.49 4.30 104.35 5.30 94.01 4.35 103.80 5.35 93.53 4.40 103.25 5.40 93.05 4.45 102.71 5.45 92.57 4.50 102.17 5.50 92.10 4.55 101.63 5.55 91.63 4.60 101.10 5.60 91.17 4.65 100.57 5.65 90.71 * 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 17 August 2007