The Hong Kong Monetary Authority (HKMA) announces that tender of 7-year Exchange Fund Notes will be held on Tuesday, 19 August 2003 for settlement on Wednesday, 20 August 2003.
An amount of HK$600 million 7-year Notes will be on offer solely for competitive tender. The Notes will mature on 20 August 2010 and will carry interest at the rate of 3.92% per annum payable semi-annually in arrears.
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 30/F, 3 Garden Road, 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), 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.
Annex: Tender Information of 7-Year Exchange Fund Notes
Hong Kong Monetary Authority
8 August 2003
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
______________________________________________________ Tender information of 7-Year Exchange Fund Notes :-
Issue Number Stock code Tender Date and Time Issue and Settlement Date Amount on Offer Maturity Maturity Date Interest Rate Interest Payment Dates Tender Amount Other details Expected commencement date of dealing on the Stock Exchange of Hong Kong |
: : : : : : : : : : : : |
7008 4113 (EFN 3.92 1008)] Tuesday, 19 August 2003 9:30 a.m. to 10:30 a.m. Wednesday, 20 August 2003 $600 million (solely for competitive tender) Seven Years 20 August 2010 3.92% p.a. 20 Feb 2004 20 Aug 2004 21 Feb 2005 22 Aug 2005 20 Feb 2006 21 Aug 2006 20 Feb 2007 20 Aug 2007 20 Feb 2008 20 Aug 2008 20 Feb 2009 20 Aug 2009 22 Feb 2010 20 Aug 2010 Each tender must be for an amount of HK$50,000 or integral multiples thereof. 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 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 21 August 2003 |
Price/Yield Table of the new EFN at tender for reference* only:
Yield-to-Maturity | Price | Yield-to-Maturity | Price |
2.92 | 106.43 | 3.92 | 100.23 |
2.97 | 106.11 | 3.97 | 99.93 |
3.02 | 105.79 | 4.02 | 99.63 |
3.07 | 105.47 | 4.07 | 99.34 |
3.12 | 105.15 | 4.12 | 99.04 |
3.17 | 104.83 | 4.17 | 98.75 |
3.22 | 104.52 | 4.22 | 98.46 |
3.27 | 104.20 | 4.27 | 98.17 |
3.32 | 103.89 | 4.32 | 97.88 |
3.37 | 103.58 | 4.37 | 97.59 |
3.42 | 103.27 | 4.42 | 97.30 |
3.47 | 102.96 | 4.47 | 97.01 |
3.52 | 102.65 | 4.52 | 96.72 |
3.57 | 102.35 | 4.57 | 96.44 |
3.62 | 102.04 | 4.62 | 96.16 |
3.67 | 101.74 | 4.67 | 95.87 |
3.72 | 101.43 | 4.72 | 95.59 |
3.77 | 101.13 | 4.77 | 95.31 |
3.82 | 100.83 | 4.82 | 95.03 |
3.87 | 100.53 | 4.87 | 94.75 |
3.92 | 100.23 | 4.92 | 94.47 |
* 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
8 August 2003