The Hong Kong Monetary Authority (HKMA) announces that tender of 2-year Exchange Fund Notes will be held on Tuesday, 12 August 2003 for settlement on Wednesday, 13 August 2003.
A total amount of HK$1,200 million 2-year Notes will be on offer, of which HK$120 million will be made available for offer to the public through non-competitive tender. 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$1,080 million). The Notes will mature on 15 August 2005 and will carry interest at the rate of 1.68% per annum payable semi-annually in arrears.
Members of the public who wish to submit non-competitive tender applications for the Notes may do so through Recognised Dealers, which are also appointed by the HKMA as Retail Exchange Fund Notes Distributors. Competitive tender applications for the Notes may be made through any of the Market Makers or Recognised Dealers. Competitive tender applications may also be submitted 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. While an applicant can apply for the Notes through both competitive and non-competitive tenders, an applicant may submit only one non-competitive tender application through the same Retail Exchange Fund Notes Distributor. Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-competitive tender.
The list of Market Makers or Recognised Dealers (including Retail Exchange Fund Notes Distributors) can be obtained from the HKMA at 30/F, 3 Garden Road, Hong Kong (telephone 2878 1465), or from the HKMA's website at http://www.hkma.gov.hk.
The tender results will be published on the HKMA's website, the Reuters screen (HKMAOOE), Bloomberg, the Telerate screen (9913), the Bridge News screen and CCASS terminal for CCASS Broker/Custodian/Participants. CCASS Investor Participants can also enquire about the tender results through the CCASS Phone System. Applicants for non-competitive tender may enquire about the tender results through the Retail Exchange Fund Notes Distributors.
Hong Kong Monetary Authority
1 August 2003
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
______________________________________________________
Tender information of 2-Year Exchange Fund Notes :-
Issue Number:
Stock code:
Tender Date
and Time:
Issue and Settlement Date:
Amount on Offer:
Maturity:
Maturity Date:
Interest Rate:
Commencement of submission
of non-competitive
tender bids by retail investors:
Deadline for submission of
non-competitive
tender bids by retail investors:
Interest Payment Dates:
Tender Amount:
Other details:
Expected commencement date
of dealing on the Stock
Exchange of Hong Kong:
|
2508
4112 (EFN 1.68)0508
Tuesday, 12 August 2003
9:30 a.m. to 10:30 a.m.
Wednesday, 13 August 2003
HK$1,200 million
(up to $120 million for
non-competitive tender)
Two years
15 August 2005
1.68% p.a.
9:00 a.m., 1 August 2003
12:00 noon, 8 August 2003
13 February 2004,
13 August, 2004,
14 February 2005,
15 August 2005
Each tender must be for an
amount of HK$50,000 or integral
multiples thereof. Members of
the public who wish to apply
for the Notes through non-competitive
tender may only do so through a
Recognised Dealer which has also been
appointed by the HKMA as a
Retail Exchange Fund Notes
Distributor. Members of the public
who wish to apply for the Notes
through competitive tender 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.
Please see Information Memorandum
published or approach Market Makers,
Recognised Dealers (including Retail
Exchange Fund Notes Distributor),
Hong Kong Securities Clearing
Company Limited, or brokers who
are Exchange Participants of
the Stock Exchange of Hong Kong
14 August 2003
|
|
|
Price/Yield Table of the new EFN at tender for reference* only: -
| Yield-to-Maturity |
Price |
Yield-to-Maturity |
Price |
| 0.68 |
101.99 |
1.68 |
100.01 |
| 0.73 |
101.89 |
1.73 |
99.92 |
| 0.78 |
101.79 |
1.78 |
99.82 |
| 0.83 |
101.69 |
1.83 |
99.72 |
| 0.88 |
101.59 |
1.88 |
99.63 |
| 0.93 |
101.49 |
1.93 |
99.53 |
| 0.98 |
101.39 |
1.98 |
99.43 |
| 1.03 |
101.29 |
2.03 |
99.34 |
| 1.08 |
101.19 |
2.08 |
99.24 |
| 1.13 |
101.09 |
2.13 |
99.14 |
| 1.18 |
100.99 |
2.18 |
99.05 |
| 1.23 |
100.90 |
2.23 |
98.95 |
| 1.28 |
100.80 |
2.28 |
98.86 |
| 1.33 |
100.70 |
2.33 |
98.76 |
| 1.38 |
100.60 |
2.38 |
98.66 |
| 1.43 |
100.50 |
2.43 |
98.57 |
| 1.48 |
100.40 |
2.48 |
98.47 |
| 1.53 |
100.31 |
2.53 |
98.38 |
| 1.58 |
100.21 |
2.58 |
98.28 |
| 1.63 |
100.11 |
2.63 |
98.19 |
| 1.68 |
100.01 |
2.68 |
98.09 |
*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
1 August 2003
