The Hong Kong Monetary Authority (HKMA) announces that a tender of 10-year Exchange Fund Notes will be held on Monday 18 June 2012 for settlement on Tuesday 19 June 2012.
A total of HK$800 million 10-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$795 million). The Notes will mature on 20 June 2022 and will carry interest at the rate of 0.97% 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
7 June 2012
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
Tender information of 10-Year Exchange Fund Notes :-
Issue Number : 10Y2206
Stock code : 4028 (EFN 0.97 2206)
Tender Date : Monday, 18 June 2012
and Time 9:30 a.m. to 10:30 a.m.
Issue and Settlement : Tuesday, 19 June 2012
Date
Amount on Offer : HK$800 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 : Ten years
Maturity Date : 20 June 2022
Interest Rate : 0.97% p.a.
Interest Payment Dates : 19 Dec 2012
19 Jun 2013
19 Dec 2013
19 Jun 2014
19 Dec 2014
19 Jun 2015
21 Dec 2015
20 Jun 2016
19 Dec 2016
19 Jun 2017
19 Dec 2017
19 Jun 2018
19 Dec 2018
19 Jun 2019
19 Dec 2019
19 Jun 2020
21 Dec 2020
21 Jun 2021
20 Dec 2021
20 Jun 2022
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 : 20 June 2012
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
-0.03 110.02 0.97 100.02
0.02 109.49 1.02 99.55
0.07 108.97 1.07 99.08
0.12 108.45 1.12 98.61
0.17 107.93 1.17 98.15
0.22 107.42 1.22 97.69
0.27 106.90 1.27 97.23
0.32 106.39 1.32 96.77
0.37 105.89 1.37 96.32
0.42 105.38 1.42 95.86
0.47 104.88 1.47 95.41
0.52 104.39 1.52 94.97
0.57 103.89 1.57 94.52
0.62 103.40 1.62 94.08
0.67 102.91 1.67 93.64
0.72 102.42 1.72 93.20
0.77 101.94 1.77 92.77
0.82 101.45 1.82 92.33
0.87 100.97 1.87 91.90
0.92 100.50 1.92 91.47
0.97 100.02 1.97 91.05
* 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 June 2012
