Key Information

inSight
Speeches
Speeches by Speaker
Norman T.L. Chan
Peter Pang
Eddie Yue
Arthur Yuen
Zeti Akhtar Aziz
Raymond Li
Edmond Lau
Esmond Lee
Meena Datwani
Vincent W.S. Lee
James Lau
Joseph Yam
Y K Choi
William Ryback
David Carse
Tony Latter
Andrew Sheng
Hans Genberg
Simon Topping
Michael Taylor
The Honourable Donald Tsang
Chen Yuan
Dai Xianglong
Don Brash
Jaime Caruana
Andrew Crockett
Mario Draghi
David Eldon
Stanley Fischer
Timothy F. Geithner
Stephen Grenville
Kenneth G. Lay
William McDonough
Ernest Patrikis
Glenn Stevens
Jean-Claude Trichet
Tarisa Watanagase
Zeti Akhtar Aziz
Carmen Chu
Alan Au
Press Releases
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
Press Releases by Category
Bogus Voice Message Phone Calls
Banking in Hong Kong
Fraudulent Websites, E-mails and Telephone System, and other fraud cases
Granting of Banking Licences
Exchange Fund
Table of Multiples of Notes and Payments for Allotted Amount under non-competitive tender
Table of Multiples of Notes and Payments of Application Amount under non-competitive tender
Tender of Exchange Fund Bills and Notes
Tender Results of Exchange Fund Bills and Notes
Tentative Issuance Schedule for Exchange Fund Bills and Notes
Appointments and Departures
HKMA Pay Review
HKMA Publications
Speeches
The Hong Kong Mortgage Corporation
Hong Kong Note Printing Limited
Hong Kong Institute for Monetary Research
Exchange Fund Investment Limited
Others
Hong Kong Financial Infrastructure
International Relations
Investment Products Related to Lehman Brothers
Monetary Policy
Notes and Coins
Renminbi business
Credit Card Lending Survey
Monetary Statistics
Residential Mortgage Survey
Year 2000
Others
Guidelines and Circulars
Guidelines
Circulars
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
515.5995

Press Releases

Tender for the reopening of 5-Year Exchange Fund Notes
to be held on Friday, 16 December 2011 

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. 05Y1412) will be held on Friday, 16 December 2011 for settlement on Monday, 19 December 2011.

An additional amount of HK$1,200 million of the outstanding 5-year Notes (issue no. 05Y1412) 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 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 22 December 2014 and carry interest at the rate of 1.69% per annum payable semi-annually in arrears.  The Notes Fixings on 5 December 2011 was 103.80 with an annualised yield of 0.44%.

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 submit 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
7 December 2011

 

HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
______________________________________________________

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

Issue Number           : 05Y1412

Stock code             : 4197 (EFN 1.69 1412)

Tender Date            : Friday, 16 December 2011
and Time                 9:30 a.m. to 10:30 a.m. 

Issue and Settlement   : Monday, 19 December 2011
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          : 22 December 2014

Interest Rate          : 1.69% per annum payable
                         semi-annually in arrears 

Interest Payment Dates : 21 Dec 2011
                         21 Jun 2012
                         21 Dec 2012
                         21 Jun 2013
                         23 Dec 2013
                         23 Jun 2014
                         22 Dec 201 

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

                         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 (19 Dec 2011)
                         for the tender amount is
                         HK$419.03 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       05Y1412 listed on the Stock
of Hong Kong             Exchange of Hong Kong

Hong Kong Monetary Authority
7 December 2011

 

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

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

     -0.56          106.80       0.44           103.73
     -0.51          106.64       0.49           103.58
     -0.46          106.49       0.54           103.43
     -0.41          106.33       0.59           103.28
     -0.36          106.18       0.64           103.13
     -0.31          106.02       0.69           102.97
     -0.26          105.87       0.74           102.82
     -0.21          105.72       0.79           102.67
     -0.16          105.56       0.84           102.52
     -0.11          105.41       0.89           102.37
     -0.06          105.25       0.94           102.22
     -0.01          105.10       0.99           102.08
      0.04          104.96       1.04           101.93
      0.09          104.80       1.09           101.78
      0.14          104.65       1.14           101.63
      0.19          104.50       1.19           101.48
      0.24          104.34       1.24           101.34
      0.29          104.19       1.29           101.19
      0.34          104.04       1.34           101.04
      0.39          103.88       1.39           100.89
      0.44          103.73       1.44           100.75 

* 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
7 December 2011

Last revision date: 7 December 2011
ABOUT THE HKMA
The HKMA
Tender Invitations
Careers@HKMA
Legislative Council Issues
Links
The HKMA Information Centre
KEY FUNCTIONS
Monetary Stability
Banking Stability
International Financial Centre
Exchange Fund
PUBLICATIONS & RESEARCH
Annual Report
Half-Yearly Monetary & Financial Stability Report
Quarterly Bulletin
HKMA Background Briefs
Reference Materials
Research
MARKET DATA & STATISTICS
CMU Bond Price Bulletin
Economic & Financial Data for Hong Kong
Monthly Statistical Bulletin
Monetary Statistics
KEY INFORMATION
Press Releases
Speeches
Guidelines & Circulars
Forthcoming Events
inSight
OTHER INFORMATION
Information in Other Languages (Bahasa Indonesia, हिन्दी, नेपाली, ਪੰਜਾਬੀ, Tagalog, ไทย, اردو)
Account Opening
Consumer Corner
Consumer Education Programme
Complaints about Banks
Complaints about SVF Licensees
Internet Banking
Fraudulent Bank Websites, Phishing E-mails and Similar Scams
Be Careful of Bogus Phone Calls and SMS Messages
Authenticate the Callers and Bank Hotline Numbers
Register of AIs & LROs
Register of Securities Staff of AIs
Register of SVF Licensees
Investment Products Related to Lehman Brothers
Photo Gallery