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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. 05Y1509) will be held on September 14, 2012 (Friday) for settlement on September 17, 2012 (Monday).
An additional amount of HK$1,200 million of the outstanding 5-year Notes (issue no. 05Y1509) 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 September 21, 2015 and carry interest at the rate of 1.18% per annum payable semi-annually in arrears. The Notes Fixings on September 3, 2012 was 103.01 with an annualized yield of 0.19%.
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 : 05Y1509
Stock code : 4007 (EFN 1.18 1509)
Tender Date : September 14, 2012 (Friday)
and Time 9.30am to 10.30am
Issue and Settlement : September 17, 2012 (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 requirements
Deadline for as set down by HKSCC
submission of non-
competitive tender bids
by retail investor
through HKSCC
Maturity : 36 months
Maturity Date : September 21, 2015
Interest Rate : 1.18% per annum
Interest Payment Dates: September 20, 2012
March 20, 2013
September 20, 2013
March 20, 2014
September 22, 2014
March 20, 2015
September 21, 2015
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 (September 17,
2012) for the tender amount
is HK$292.58 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).
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 05Y1509 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
-0.81 106.07 0.19 102.96
-0.76 105.91 0.24 102.81
-0.71 105.75 0.29 102.66
-0.66 105.60 0.34 102.51
-0.61 105.44 0.39 102.36
-0.56 105.28 0.44 102.21
-0.51 105.12 0.49 102.06
-0.46 104.97 0.54 101.91
-0.41 104.81 0.59 101.76
-0.36 104.66 0.64 101.61
-0.31 104.50 0.69 101.46
-0.26 104.35 0.74 101.31
-0.21 104.19 0.79 101.16
-0.16 104.04 0.84 101.01
-0.11 103.88 0.89 100.86
-0.06 103.73 0.94 100.72
-0.01 103.58 0.99 100.57
0.04 103.42 1.04 100.42
0.09 103.27 1.09 100.27
0.14 103.12 1.14 100.13
0.19 102.96 1.19 99.98
* 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, September 5, 2012
Issued at HKT 18:25
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