The Hong Kong Monetary Authority (HKMA) announces that a tender of 15-year Exchange Fund Notes will be held on Thursday 25 August 2011 for settlement on Friday 26 August 2011.
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 26 August 2026 and will carry interest at the rate of 2.07% 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
16 August 2011
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
___________________________________________ Tender information of 15-Year Exchange Fund Notes :- Issue Number : 15Y2608 Stock code : 4018 (EFN 2.07 2608) Tender Date : Thursday, 25 August 2011 and Time 9:30 a.m. to 10:30 a.m. Issue and Settlement : Friday, 26 August 2011 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 : 26 August 2026 Interest Rate : 2.07% p.a. Interest Payment Dates : 27 Feb 2012 27 Aug 2012 26 Feb 2013 26 Aug 2013 26 Feb 2014 26 Aug 2014 26 Feb 2015 26 Aug 2015 26 Feb 2016 26 Aug 2016 27 Feb 2017 28 Aug 2017 26 Feb 2018 27 Aug 2018 26 Feb 2019 26 Aug 2019 26 Feb 2020 26 Aug 2020 26 Feb 2021 26 Aug 2021 28 Feb 2022 26 Aug 2022 27 Feb 2023 28 Aug 2023 26 Feb 2024 26 Aug 2024 26 Feb 2025 26 Aug 2025 26 Feb 2026 26 Aug 2026 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 : 29 August 2011 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 1.07 113.87 2.07 100.14 1.12 113.13 2.12 99.50 1.17 112.40 2.17 98.87 1.22 111.67 2.22 98.25 1.27 110.95 2.27 97.63 1.32 110.24 2.32 97.01 1.37 109.53 2.37 96.40 1.42 108.82 2.42 95.80 1.47 108.13 2.47 95.19 1.52 107.43 2.52 94.60 1.57 106.74 2.57 94.00 1.62 106.06 2.62 93.42 1.67 105.38 2.67 92.83 1.72 104.71 2.72 92.25 1.77 104.04 2.77 91.68 1.82 103.38 2.82 91.10 1.87 102.72 2.87 90.54 1.92 102.07 2.92 89.97 1.97 101.42 2.97 89.42 2.02 100.77 3.02 88.86 2.07 100.14 3.07 88.31 * 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 16 August 2011