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515.5995

Press Releases

Tender for the reopening of 5-Year Exchange Fund Notes
to be held on Monday, 22 June 2009

The Hong Kong Monetary Authority (HKMA) announces that the tender of Exchange Fund Notes with a maturity of 36 months through the reopening of existing 5-year Exchange Fund Notes (issue no. 05Y1206) will be held on Monday, 22 June 2009 for settlement on Tuesday, 23 June 2009.

An additional amount of HK$1,200 million of the outstanding 5-year Notes (issue no. 05Y1206) will be on offer, of which HK$5 million will be made available for offer to member 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 June 2012 and carry interest at the rate of 4.53% per annum payable semi-annually in arrears. The Notes Fixings on 10 June 2009 was 108.76 with an annualized yield of 1.56%.

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 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 holding Investor Accounts at HKSCC's CCASS from the CCASS terminal for CCASS Broker/Custodian/Participants and CCASS Phone System.

Hong Kong Monetary Authority
11 June 2009

HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION

______________________________________________________

Tender information of the reopening of 5-Year Exchange Fund Notes :-

Issue Number           : 05Y1206

Stock code             : 4166 (EFN 4.53 1206)

Tender Date            : Monday, 22 June 2009
and Time                 9:30 a.m. to 10:30 a.m.

Issue and Settlement   : Tuesday, 23 June 2009
Date for tender amount

Amount on Offer        : HK$1,200 million
                         (up to HK$5 million for non-
                          competitive tender)

Commencement of/       :  Please refer to requirements
Deadline for submission   as set down by HKSCC
of non-competitive
tender bids by retail
investor through HKSCC

Maturity               : 36 months

Maturity Date          : 18 June 2012

Interest Rate          : 4.53% per annum payable
                         semi-annually in arrears

Interest Payment Dates : 18 Dec 2009
                         18 Jun 2010
                         20 Dec 2010
                         20 Jun 2011
                         19 Dec 2011
                         18 Jun 2012

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 holding Investor
                         Accounts at HKSCC's CCASS,
                         directly through HKSCC.
                         Members of the public who
                         wish to apply for the Notes
                         through competitive tender
                         may do so through any of the
                         Eligible Market Makers on the
                         current published list.

                         The accrued interest to be
                         paid by successful bidders on
                         the issue date (23 Jun 2009)
                         for the tender amount is
                         HK$31.03 per minimum
                         denomination of HK$50,000.
                         (The accrued interest to be
                         paid for tender amount
                         exceeding HK$50,000 may not
                         be exactly equal to the
                         figures calculated from the
                         accrued interest per minimum
                         denomination of HK$50,000,
                         due to rounding error).

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  : The tender amount is fully
date of dealing on       fungible with the existing
the Stock Exchange       05Y1206 listed on the Stock
of Hong Kong             Exchange of Hong Kong

Hong Kong Monetary Authority
11 June 2009

 
Price/Yield Table of the reopening of EFN at tender for reference* only :-

 

Yield-to-Maturity  Price  Yield-to-Maturity Price

      0.56         111.74       1.56        108.65
      0.61         111.59       1.61        108.50 
      0.66         111.43       1.66        108.35 
      0.71         111.27       1.71        108.20 
      0.76         111.12       1.76        108.05 
      0.81         110.96       1.81        107.90 
      0.86         110.80       1.86        107.75 
      0.91         110.65       1.91        107.60 
      0.96         110.49       1.96        107.45 
      1.01         110.34       2.01        107.30 
      1.06         110.18       2.06        107.15 
      1.11         110.03       2.11        107.00 
      1.16         109.87       2.16        106.85 
      1.21         109.72       2.21        106.70 
      1.26         109.57       2.26        106.56 
      1.31         109.41       2.31        106.41 
      1.36         109.26       2.36        106.26 
      1.41         109.11       2.41        106.12 
      1.46         108.96       2.46        105.97 
      1.51         108.80       2.51        105.82 
      1.56         108.65       2.56        105.68 

* 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
11 June 2009
Last revision date: 1 August 2011
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