HKMA-Tender of 2-Year Exchange Fund Notes to be held on 20 August 2019.
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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 of 2-Year Exchange Fund Notes:-
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
(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
Monday, 23 August 2021
Interest Payment Dates
21 Feb 2020
21 Aug 2020
22 Feb 2021
23 Aug 2021
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.
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 :-
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|Date:||Aug 12, 2019|
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