The Hong Kong Monetary Authority (HKMA) announced today the tender for the seventh issue of the Airport Authority (AA) Notes to be held on 4 September 2000 (Monday).
An amount of HK$500 million in AA Notes will be offered for settlement on Tuesday 5 September 2000. The 3-year Notes, which mature on 5 September 2003, will carry interest at the fixed rate of 6.75% per annum payable semi-annually in arrears. Terms and conditions of the issue are described fully in the Information Memorandum.
The HK$500 million AA Notes issue is the seventh tranche of the HK$5 billion AA Note Issuance Programme in which the HKMA acts as the arranger, custodian, agent and operator. The AA Notes, which are denominated in HK$50,000, will be cleared through the Central Moneymarkets Unit (CMU).
The AA Notes will be covered by the existing market-making arrangements for the Exchange Fund Bills and Notes. Under the Programme, the AA Notes will be sold from time to time by tender to a group of Market Makers and Recognized Dealers appointed by the HKMA.
Under the short selling arrangement, Market Makers of Exchange Fund, MTRC, HKMC and AA papers can go short in any issues of such papers provided they hold sufficient amount of other Exchange Fund, MTRC, HKMC or AA papers in the system to cover their short positions by entering into a repo transaction with the HKMA at the end of the day. In return the Market Makers are obliged to quote two-way (bid-ask) prices during normal money market hours.
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
29 August 2000
AIRPORT AUTHORITY
NOTE ISSUANCE PROGRAMME
TENDER INFORMATION
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Tender information for the seventh issue of Airport Authority Note Issuance Programme :-
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Issue Number :
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A303
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Tender Date and Time :
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Monday 4 September 2000
9:30 a.m. to 10:30 a.m.
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Issue and Settlement Date :
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Tuesday 5 September 2000
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Amount on Offer :
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HK$500 million
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Maturity :
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Three years
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Maturity Date :
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5 September 2003
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Interest Rate :
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6.75 per cent per annum
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Interest Payment Dates :
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5 March 2001 5 September 2001
5 March 2002 5 September 2002
5 March 2003 5 September 2003
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Tender Amount :
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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 |
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Other details :
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Please see Information Memorandum published or approach Market Makers or Recognized Dealers |
Hong Kong Monetary Authority
29 August 2000
