The Hong Kong Monetary Authority (HKMA) announces that the tender of Exchange Fund Notes with a maturity of 38 months through the reopening of existing 5-year Exchange Fund Notes (issue no. 5809) will be held on Friday, 22 July 2005 for settlement on Monday, 25 July 2005.
An additional amount of HK$1,200 million of the outstanding 5-year Notes (issue no. 5809) will be on offer. The Notes will mature on 25 September 2008 and carry interest at the rate of 3.27% per annum payable semi-annually in arrears. The Notes closed at 100.05 with an annualized yield of 3.27% on 12 July 2005.
Members of the public who wish to tender for the Notes may do so through any of the Market Makers or Recognised Dealers on the 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. They may also submit their tender applications through brokers who are Exchange Participants of the Stock Exchange of Hong Kong via Hong Kong Securities Clearing Company Limited (HKSCC) or, for those who hold Investor Accounts at HKSCC, directly through HKSCC. HKSCC will collect tender applications from its participants and submit them to the HKMA for processing. Each tender must be for an amount of HK$50,000 or integral multiples thereof. Successful bidders of the reopened issue have to pay to the HKMA the respective bid price plus an amount equal to the interest accrued from the last coupon payment date to the allotment date of the reopened issue. The tender results will be published on the HKMA's website, the Reuters screen (HKMAOOE), Bloomberg, the Telerate screen (9913) and CCASS terminal for CCASS Broker/Custodian/Participants. CCASS Investor Participants can also enquire about the tender results through the CCASS Phone System.
Hong Kong Monetary Authority
13 July 2005
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
Tender information of the reopening of 5-Year Exchange Fund Notes :- Issue Number : 5809 Stock code : 4114 (EFN 3.27 0809) Tender Date : Friday, 22 July 2005 and Time 9:30 a.m. to 10:30 a.m. Issue and Settlement : Monday, 25 July 2005 Date for tender amount Amount on Offer : HK$1,200 million (solely for competitive tender) Maturity : 38 months Maturity Date : 25 September 2008 Interest Rate : 3.27% per annum payable semi-annually in arrears Interest Payment Dates : 26 Sept 2005 27 Mar 2006 25 Sept 2006 26 Mar 2007 25 Sept 2007 25 Mar 2008 25 Sept 2008 Tender Amount : Each tender must be for an amount of HK$50,000 or integral multiples thereof. The accrued interest to be paid by successful bidders on the issue date (25 July 2005) for the tender amount is HK$528.58 per minimum denomination of HK$50,000. (The accrued interest to be paid for tender amount exceeding HK$50,000 may not be exactly equal to the figures calculated from the accrued interest per minimum denomination of HK$50,000, due to rounding error). Members of the public who wish to tender for the Notes may approach Market Makers or Recognised Dealers on the published list, Hong Kong Securities Clearing Company Limited, or brokers who are Exchange Participants of the Stock Exchange of Hong Kong Other details : Please see Information Memorandum published or approach Market Makers, Recognised Dealers, Hong Kong Securities Clearing Company Limited, or brokers who are Exchange Participants of the Stock Exchange of Hong Kong Expected commencement : The tender amount is fully date of dealing on fungible with the existing the Stock Exchange EFN 5809 listed on the Stock of Hong Kong Exchange of Hong Kong Hong Kong Monetary Authority 13 July 2005 Price/Yield Table of the new EFN at tender for reference* only :- Yield-to-Maturity Price Yield-to-Maturity Price 2.27 103.06 3.27 100.06 2.32 102.91 3.32 99.92 2.37 102.76 3.37 99.77 2.42 102.61 3.42 99.62 2.47 102.45 3.47 99.48 2.52 102.30 3.52 99.33 2.57 102.15 3.57 99.19 2.62 102.00 3.62 99.04 2.67 101.85 3.67 98.90 2.72 101.70 3.72 98.75 2.77 101.55 3.77 98.61 2.82 101.40 3.82 98.46 2.87 101.25 3.87 98.32 2.92 101.10 3.92 98.18 2.97 100.95 3.97 98.03 3.02 100.80 4.02 97.89 3.07 100.65 4.07 97.75 3.12 100.51 4.12 97.61 3.17 100.36 4.17 97.46 3.22 100.21 4.22 97.32 3.27 100.06 4.27 97.18 * 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 13 July 2005