Tender of 10-Year Exchange Fund Notes to be held on Monday, 8 June 2009
The Hong Kong Monetary Authority (HKMA) announces that a tender of 10-year Exchange Fund Notes will be held on Monday 8 June 2009 for settlement on Tuesday 9 June 2009.
A total of HK$800 million 10-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$795 million). The Notes will mature on 10 June 2019 and will carry interest at the rate of 2.64% 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
27 May 2009
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
Tender information of 10-Year Exchange Fund Notes :- Issue Number : 10Y1906 Stock code : 4190 (EFN 2.64 1906) Tender Date : Monday, 8 June 2009 and Time 9:30 a.m. to 10:30 a.m. Issue and Settlement : Tuesday, 9 June 2009 Date Amount on Offer : HK$800 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 : Ten years Maturity Date : 10 June 2019 Interest Rate : 2.64% p.a. Interest Payment Dates : 9 Dec 2009 9 Jun 2010 9 Dec 2010 9 Jun 2011 9 Dec 2011 11 Jun 2012 10 Dec 2012 10 Jun 2013 9 Dec 2013 9 Jun 2014 9 Dec 2014 9 Jun 2015 9 Dec 2015 9 Jun 2016 9 Dec 2016 9 Jun 2017 11 Dec 2017 11 Jun 2018 10 Dec 2018 10 Jun 2019 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 : 10 June 2009 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 1.64 109.26 2.64 100.15 1.69 108.78 2.69 99.72 1.74 108.30 2.74 99.29 1.79 107.83 2.79 98.86 1.84 107.36 2.84 98.44 1.89 106.89 2.89 98.02 1.94 106.42 2.94 97.60 1.99 105.96 2.99 97.18 2.04 105.50 3.04 96.76 2.09 105.04 3.09 96.35 2.14 104.59 3.14 95.94 2.19 104.13 3.19 95.53 2.24 103.68 3.24 95.12 2.29 103.23 3.29 94.72 2.34 102.78 3.34 94.31 2.39 102.34 3.39 93.91 2.44 101.90 3.44 93.51 2.49 101.46 3.49 93.11 2.54 101.02 3.54 92.72 2.59 100.58 3.59 92.33 2.64 100.15 3.64 91.94 * 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 27 May 2009