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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. 05Y1706) will be held on June 20 (Friday) for settlement on June 23 (Monday).
An additional amount of HK$1,200 million of the outstanding 5-year Notes (issue no. 05Y1706) 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 June 19, 2017 and carry interest at the rate of 0.44% per annum payable semi-annually in arrears. The Notes Fixings on June 9, 2014 was 99.00 with an annualised yield of 0.78%.
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 : 05Y1706
Stock code : 4027 (EFN 0.44 1706)
Tender Date : June 20, 2014 (Friday)
and Time 9.30am to 10.30am
Issue and Settlement : June 23, 2014 (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
of non-competitive set down by HKSCC
tender bids by retail
investor through HKSCC
Maturity : 36 months
Maturity Date : June 19, 2017
Interest Rate : 0.44% per annum
Interest Payment Dates : December 18, 2014
June 18, 2015
December 18, 2015
June 20, 2016
December 19, 2016
June 19, 2017
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
(June 23, 2014) for the
tender amount is HK$3.01
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 05Y1706 listed on the
of Hong Kong Stock 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
-0.22 101.98 0.78 99.00
-0.17 101.83 0.83 98.86
-0.12 101.68 0.88 98.71
-0.07 101.52 0.93 98.57
-0.02 101.37 0.98 98.42
0.03 101.22 1.03 98.28
0.08 101.07 1.08 98.13
0.13 100.92 1.13 97.99
0.18 100.77 1.18 97.84
0.23 100.63 1.23 97.70
0.28 100.48 1.28 97.56
0.33 100.33 1.33 97.42
0.38 100.18 1.38 97.27
0.43 100.03 1.43 97.13
0.48 99.88 1.48 96.99
0.53 99.74 1.53 96.85
0.58 99.59 1.58 96.71
0.63 99.44 1.63 96.56
0.68 99.30 1.68 96.42
0.73 99.15 1.73 96.28
0.78 99.00 1.78 96.14
* 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, June 11, 2014
Issued at HKT 17:27
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