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The Hong Kong Monetary Authority (HKMA) announces that a tender of 2-year Exchange Fund Notes will be held on Tuesday, 13 February, 2007 for settlement on Wednesday, February 14, 2007.
A total of HK$1,200 million 2-year Notes will be on offer, of which HK$200 million will be made available for offer to the public through non-competitive tender. If the amount of Notes reserved for non-competitive tender is under-subscribed, the non-subscribed amount will be added to the portion of notes for competitive tender (initially set at HK$1,000 million). The Notes will mature on February 16, 2009 and will carry interest at the rate of 4.00% per annum payable semi-annually in arrears.
Members of the public who wish to submit non-competitive tender applications for the Notes may do so through Recognised Dealers, which are also appointed by the HKMA as Retail Exchange Fund Notes Distributors. Competitive tender applications for the Notes may be made through any of the Market Makers or Recognised Dealers. Competitive tender applications may also be submitted 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. While an applicant can apply for the Notes through both competitive and non-competitive tenders, an applicant may submit only one non-competitive tender application through the same Retail Exchange Fund Notes Distributor. Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-competitive tender.
The list of Market Makers or Recognised Dealers (including Retail Exchange Fund Notes Distributors) 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.
The tender results will be published on the HKMA's website, the Reuters screen (HKMAOOE), Bloomberg and CCASS terminal for CCASS Broker/ Custodian/Participants. CCASS Investor Participants can also enquire about the tender results through the CCASS Phone System. Applicants for non-competitive tender may enquire about the tender results through the Retail Exchange Fund Notes Distributors.
Hong Kong Monetary Authority
1 February 2007
HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION
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Tender information of 2-Year Exchange Fund Notes :-
Issue Number : 02Y0902
Stock code : 4161 (EFN 4.00 0902)
Tender Date : Tuesday, February 13, 2007
and Time 9.30am to 10.30am
Issue and Settlement : Wednesday, February 14, 2007
Date
Amount on Offer : HK$1,200 million
(up to HK$200 million for
for non-competitive tender)
Maturity : Two years
Maturity Date : February 16, 2009
Interest Rate : 4.00% p.a.
Commencement of : 9am, February 2, 2007
submission of non-
competitive tender bids
by retail investors
Deadline for : 2pm, February 9, 2007
submission of non-
competitive tender bids
by retail investors
Interest Payment Dates : Aug 14 2007
Feb 14 2008
Aug 14 2008
Feb 16 2009
Tender Amount : Each tender must be for an
amount of HK$50,000 or
integral multiples thereof.
Members of the public who
wish to apply for the Notes
through non-competitive
tender may only do so through
a Recognized Dealer which has
also been appointed by the
HKMA as a Retail Exchange
Fund Notes Distributor
Members of the public who
wish to apply for the Notes
through competitive tender
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 (including
Retail Exchange Fund Notes
Distributors), Hong Kong
Securities Clearing Company
Limited, or brokers who are
Exchange Participants of the
Stock Exchange of Hong Kong
Expected commencement : February 15, 2007
date of dealing on
the Stock Exchange
of Hong Kong
Price/Yield Table of the new EFN at tender for
reference* only :-
Yield-to-Maturity Price Yield-to-Maturity Price
3.00 101.97 4.00 100.07
3.05 101.88 4.05 99.98
3.10 101.78 4.10 99.89
3.15 101.68 4.15 99.79
3.20 101.59 4.20 99.70
3.25 101.49 4.25 99.61
3.30 101.40 4.30 99.52
3.35 101.30 4.35 99.42
3.40 101.21 4.40 99.33
3.45 101.11 4.45 99.24
3.50 101.02 4.50 99.15
3.55 100.92 4.55 99.05
3.60 100.83 4.60 98.96
3.65 100.73 4.65 98.87
3.70 100.64 4.70 98.78
3.75 100.54 4.75 98.69
3.80 100.45 4.80 98.60
3.85 100.36 4.85 98.50
3.90 100.26 4.90 98.41
3.95 100.17 4.95 98.32
4.00 100.07 5.00 98.23
* 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/Thursday, February 1, 2007
Issued at HKT 17:05
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