Tender for the Fourth Issue of Mass Transit Railway Corporation Notes

Press Releases

17 Apr 1998

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 : -

Issue Number

:

M504

Tender Date and Time

:

Thursday 23 April 1998
9:30 a.m. to 10:30 a.m.

Issue and Settlement Date

:

Friday 24 April 1998

Amount on Offer

:

HK$500 million

Maturity

:

Five years

Maturity Date

:

24 April 2003

Interest Rate

:

8.35% per annum

Interest Payment Dates

:

26 October 1998 26 April 1999
25 October 1999 24 April 2000
24 October 2000 24 April 2001
24 October 2001 24 April 2002
24 October 2002 24 April 2003

Tender Amount

:

Each tender must be for an amount of
HK$50,000 or integral multiples
thereof. Members of the public who
wish to tender for the Notes may
approach Market Makers or
Recognized Dealers on the published
list

Other details

:

Please see Information Memorandum
published or approach Market Makers
or Recognized Dealers

Hong Kong Monetary Authority
17 April 1998

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Last revision date : 17 April 1998