Printer Friendly

HKMA-Tender of 2-Year Exchange Fund Notes to be held on 20 August 2019.

ENPNewswire-August 12, 2019--HKMA-Tender of 2-Year Exchange Fund Notes to be held on 20 August 2019

(C)2019 ENPublishing - http://www.enpublishing.co.uk

Release date- 09082019 - The Hong Kong Monetary Authority (HKMA) announces that a tender of 2-year Exchange Fund Notes will be held on (Tuesday) 20 August 2019 for settlement on (Wednesday) 21 August 2019, as set out in the tentative issuance schedule announced on 15 May 2019.

This is to roll over an issue of 2-year Exchange Fund Notes maturing on the same day.

A total of HK$1,200 million 2-year Notes will be on offer, of which HK$5 million will be made available for offer to members 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 23 August 2021 and will carry interest at the rate of 1.48% per annum payable semi-annually in arrears.

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 the 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 http://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 submitted non-competitive tender bids through HKSCC may also obtain the tender results from Stock Exchange Participants/Brokers, or for applicants who hold Investor Accounts at HKSCC's CCASS from the CCASS terminal for CCASS Broker/Custodian/Participants and CCASS Phone System.

Hong Kong Monetary Authority

HONG KONG MONETARY AUTHORITY

EXCHANGE FUND NOTE PROGRAMME

TENDER INFORMATION

Tender information of 2-Year Exchange Fund Notes:-

Issue Number

:

02Y2108

Stock code

:

4077 (EFN 1.48 2108)

Tender date and time

:

Tuesday, 20 August 2019

9:30 a.m. to 10:30 a.m.

Issue and Settlement Date

:

Wednesday, 21 August 2019

Amount on offer

:

HK$1,200 million

(up to HK$5 million for non-competitive tender)

Commencement of/ Deadline for submission of non-competitive tender bids by retail investors through HKSCC

:

Please refer to requirements as set down by HKSCC

Maturity

:

Two years

Maturity Date

:

Monday, 23 August 2021

Interest Rate

:

1.48% p.a.

Interest Payment Dates

:

21 Feb 2020

21 Aug 2020

22 Feb 2021

23 Aug 2021

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 who hold Investors Accounts at HKSCC's CCASS, directly through HKSCC. Members of the public who wish to apply for the Notes through competitive tender may only do so through any of the Eligible Market Makers on the current published list.

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 date of dealing on the Stock Exchange of Hong Kong

:

Thursday, 22 August 2019

Price/Yield Table of the new EFN at tender for reference* only :-

Yield-to- Maturity

Price

Yield-to-Maturity

Price

0.480

101.99

1.480

100.01

0.530

101.89

1.530

99.91

0.580

101.79

1.580

99.82

0.630

101.69

1.630

99.72

0.680

101.59

1.680

99.62

0.730

101.49

1.730

99.53

0.780

101.39

1.780

99.43

0.830

101.29

1.830

99.33

0.880

101.19

1.880

99.24

0.930

101.09

1.930

99.14

0.980

100.99

1.980

99.04

1.030

100.89

2.030

98.95

1.080

100.80

2.080

98.85

1.130

100.70

2.130

98.76

1.180

100.60

2.180

98.66

1.230

100.50

2.230

98.56

1.280

100.40

2.280

98.47

1.330

100.30

2.330

98.37

1.380

100.21

2.380

98.28

1.430

100.11

2.430

98.18

1.480

100.01

2.480

98.09

[Editorial queries for this story should be sent to newswire@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))
COPYRIGHT 2019 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2019 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:ENP Newswire
Date:Aug 12, 2019
Words:838
Previous Article:Progress in the handling of banking complaints by HKMA.
Next Article:GEICO's Rost receives prestigious Urban League honor.
Topics:

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters