The Hong Kong Monetary Authority (HKMA) announces that a tender of 2-year Exchange Fund Notes will be held on Tuesday 16 August 2011 for settlement on Wednesday 17 August 2011.
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 Notes reserved for non-competitive tender are 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 19 August 2013 and will carry interest at the rate of 0.26% 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
5 August 2011
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
______________________________________________________
Tender information of 2-Year Exchange Fund Notes :-
Issue Number : 02Y1308
Stock code : 4017 (EFN 0.26 1308)
Tender Date : Tuesday, 16 August 2011
and Time 9:30 a.m. to 10:30 a.m.
Issue and Settlement : Wednesday, 17 August 2011
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 : 19 August 2013
Interest Rate : 0.26% p.a.
Interest Payment Dates : 17 Feb 2012
17 Aug 2012
18 Feb 2013
19 Aug 2013
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 : 18 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
-0.74 102.01 0.26 100.00 -0.69 101.91 0.31 99.90
-0.64 101.81 0.36 99.80
-0.59 101.71 0.41 99.70
-0.54 101.61 0.46 99.60
-0.49 101.51 0.51 99.50
-0.44 101.41 0.56 99.40
-0.39 101.30 0.61 99.30
-0.34 101.20 0.66 99.20
-0.29 101.10 0.71 99.11
-0.24 101.00 0.76 99.01
-0.19 100.90 0.81 98.91
-0.14 100.80 0.86 98.81
-0.09 100.70 0.91 98.71
-0.04 100.60 0.96 98.61
0.01 100.50 1.01 98.52
0.06 100.40 1.06 98.42
0.11 100.30 1.11 98.32
0.16 100.20 1.16 98.22
0.21 100.10 1.21 98.13
0.26 100.00 1.26 98.03
* 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
5 August 2011
