Tender for the Fourth Issue of Mass Transit Railway Corporation Notes

The Hong Kong Monetary Authority (HKMA) announced today (Friday) the tender for the fourth issue of Mass Transit Railway Corporation (MTRC) Notes to be held on 23 April 1998.

An amount of HK$500 million in MTRC Notes will be offered for tender next Thursday for settlement on Friday (24 April 1998). The 5-year Notes, which mature on 24 April 2003, will carry interest at the fixed rate of 8.35% per annum payable semi-annually in arrears. Terms and conditions of the issue are described fully in the Information Memorandum.

The HK$500 million MTRC Notes issue is the fourth tranche of the MTRC Note Issuance Programme in which the HKMA acts as the arranger. custodian, agent and operator. The MTRC 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 the Liquidity Adjustment Facility operated by the HKMA.

MTRC will use the proceeds for general working capital, debt refinancing and other corporate requirements.

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 multiple thereof.

Hong Kong Monetary Authority
17 April 1998

MASS TRANSIT RAILWAY CORPORATION
NOTE ISSUANCE PROGRAMME
TENDER INFORMATION

Tender information for the fourth issue of Mass Transit Railway Corporation Issuance Programme : -

Hong Kong Monetary Authority
17 April 1998