Tender for the Second Issue of The Hong Kong Mortgage Corporation Limited Notes

The Hong Kong Monetary Authority (HKMA) announced today the tender for the second issue of The Hong Kong Mortgage Corporation Limited (HKMC) Notes to be held on 1 April 1998 (Wednesday).

An amount of HK$500 million in HKMC Notes will be offered for settlement on Thursday 2 April 1998. The 3-year Notes, which mature on 12 March 2001, will carry interest at the fixed rate of 8% per annum payable semi-annually in arrears. Terms and conditions of the issue are described fully in the Information Memorandum.

The HK$500 million HKMC Notes issue is the second tranche of the HK$20 billion HKMC Note Issuance Programme in which the HKMA acts as the arranger, custodian, agent and operator. The HKMC Notes, which are denominated in HK$50,000, will be cleared through the Central Moneymarkets Unit (CMU) and will qualify as eligible securities for repo under Liquidity Adjustment Facility operated by the HKMA.

The HKMC will use the proceeds to support its mortgage purchase programme.

Members of the public who wish to tender for the Notes may do so through any of the Market Makers or Recognized Dealers on the published list which can be obtained from the HKMA at 30/F, 3 Garden Road, Hong Kong (or telephone 2878 8150). Each tender must be for an amount of HK$50,000 or integral multiples thereof.

Hong Kong Monetary Authority

26 March 1998

THE HONG KONG MORTGAGE CORPORATION LIMITED NOTE ISSUANCE PROGRAMME TENDER INFORMATION

Tender information for the second issue of The Hong Kong Mortgage Corporation Ltd Issuance Programme :-

Hong Kong Monetary Authority

26 March 1998