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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announces that the tender of Exchange Fund Notes with a maturity of 36 months through the reopening of existing 5-year Exchange Fund Notes (issue no. 05Y1412) will be held on Friday, December 16, 2011 for settlement on Monday, December 19, 2011.
An additional amount of HK$1,200 million of the outstanding 5-year Notes (issue no. 05Y1412) will be on offer, of which HK$5 million will be made available for offer to member of the public who wish to submit non-competitive tender bids through Hong Kong Securities Clearing Company Limited (HKSCC). If the Notes reserved for non-competitive tender are under-subscribed, the non-subscribed amount will be added to the portion of notes for competitive tender (initially set at HK$1,195 million). The Notes will mature on December 22, 2014 and carry interest at the rate of 1.69% per annum payable semi-annually in arrears. The Notes Fixings on December 5, 2011 was 103.80 with an annualised yield of 0.44%.
Members of the public who wish to submit non-competitive tender applications for Notes that are open to HKSCC may do so through Stock Exchange Participants/Brokers, or for those who hold investor Accounts of the Central Clearing and Settlement System (CCASS) at HKSCC, directly through HKSCC, for submission to the HKMA for processing. Competitive tender applications for the Notes must be submitted through any of the Eligible Market Makers on the current 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 www.hkma.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-competitive tender.
The tender results will be published on the HKMA's website, the Reuters screen (HKMAOOE) and Bloomberg. Applicants who submit non-competitive tender bids through HKSCC may also obtain the tender results from Stock Exchange Participants/Brokers, or for applicants holding Investor Accounts at HKSCC's CCASS from the CCASS terminal for CCASS Broker/Custodian/Participants and CCASS Phone System.
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
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Tender information of the reopening of 5-Year Exchange Fund Notes:
Issue Number : 05Y1412
Stock code : 4197 (EFN 1.69 1412)
Tender Date : December 16, 2011 (Friday)
and Time 9.30am to 10.30am
Issue and Settlement : December 19, 2011 (Monday)
Date for tender amount
Amount on Offer : HK$1,200 million
(up to HK$5 million for non-
competitive tender)
Commencement of/ : Please refer to
Deadline for submission requirements as set down
of non-competitive by HKSCC
tender bids by retail
investor through HKSCC
Maturity : 36 months
Maturity Date : December 22, 2014
Interest Rate : 1.69% per annum payable
semi-annually in arrears
Interest Payment Dates : December 21, 2011
June 21, 2012
December 21, 2012
June 21, 2013
December 23, 2013
June 23, 2014
December 22, 2014
Tender Amount : Each tender must be for
an amount of HK$50,000 or
integral multiples thereof
for both competitive and
non-competitive tender.
Members of the public who
wish to apply for the Notes
through non-competitive
tenders that are open to
HKSCC may do so through
Stock Exchange Participants/
Brokers, or for those
holding Investor Accounts at
HKSCC's CCASS, directly
through HKSCC.
Members of the public who
wish to apply for the Notes
through competitive tender
may do so through any of the
Eligible Market Makers on
the current published list.
The accrued interest to be
paid by successful bidders on
the issue date (December 19,
2011) for the tender amount
is HK$419.03 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).
Other details : Please see Information
Memorandum published or
approach eligible Market
Makers, HKSCC 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 05Y1412 listed on the Stock
of Hong Kong Exchange of Hong Kong
Price/Yield Table of the reopening of EFN at tender for reference* only:
Yield-to-Maturity Price Yield-to-Maturity Price
-0.56 106.80 0.44 103.73
-0.51 106.64 0.49 103.58
-0.46 106.49 0.54 103.43
-0.41 106.33 0.59 103.28
-0.36 106.18 0.64 103.13
-0.31 106.02 0.69 102.97
-0.26 105.87 0.74 102.82
-0.21 105.72 0.79 102.67
-0.16 105.56 0.84 102.52
-0.11 105.41 0.89 102.37
-0.06 105.25 0.94 102.22
-0.01 105.10 0.99 102.08
0.04 104.96 1.04 101.93
0.09 104.80 1.09 101.78
0.14 104.65 1.14 101.63
0.19 104.50 1.19 101.48
0.24 104.34 1.24 101.34
0.29 104.19 1.29 101.19
0.34 104.04 1.34 101.04
0.39 103.88 1.39 100.89
0.44 103.73 1.44 100.75
* 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.
Ends/Wednesday, December 7, 2011
Issued at HKT 16:43
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