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Press Releases

Tender of 2-Year Exchange Fund Notes to be held on Friday, 15 May 2009

The Hong Kong Monetary Authority (HKMA) announces that a tender of 2-year Exchange Fund Notes will be held on Friday 15 May 2009 for settlement on Monday 18 May 2009.

A total of HK$1,200 million 2-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$1,195 million). The Notes will mature on 18 May 2011 and will carry interest at the rate of 0.64% 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
6 May 2009

HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION

______________________________________________________
Tender information of 2-Year Exchange Fund Notes :-


Issue Number           : 02Y1105

Stock code             : 4189 (EFN 0.64 1105)

Tender Date            : Friday, 15 May 2009  
and Time                 9:30 a.m. to 10:30 a.m.  

Issue and Settlement   : Monday, 18 May 2009   
Date                                    

Amount on Offer        : HK$1,200 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               : Two years    

Maturity Date          : 18 May 2011   

Interest Rate          : 0.64% p.a.  

Interest Payment Dates : 18 Nov 2009 
                         18 May 2010 
                         18 Nov 2010 
                         18 May 2011                                      

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  : 19 May 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
                                  
    -0.36         102.01        0.64        100.00
    -0.31         101.91        0.69         99.90
    -0.26         101.81        0.74         99.80
    -0.21         101.70        0.79         99.70
    -0.16         101.60        0.84         99.60 
    -0.11         101.50        0.89         99.51 
    -0.06         101.40        0.94         99.41
    -0.01         101.30        0.99         99.31
     0.04         101.20        1.04         99.21 
     0.09         101.10        1.09         99.11
     0.14         101.00        1.14         99.01 
     0.19         100.90        1.19         98.92 
     0.24         100.80        1.24         98.82
     0.29         100.70        1.29         98.72 
     0.34         100.60        1.34         98.62                                                    
     0.39         100.50        1.39         98.53 
     0.44         100.40        1.44         98.43  
     0.49         100.30        1.49         98.33 
     0.54         100.20        1.54         98.23 
     0.59         100.10        1.59         98.14 
     0.64         100.00        1.64         98.04   
* 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  
6 May 2009     
Last revision date: 1 August 2011
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