Hong Kong Monetary Authority Announces Tender of 2-Year Exchange Fund Notes
The
Hong
Kong
Monetary
Authority
(HKMA)
has
announced
that
a
tender
for
2-year
Exchange
Fund
Notes
will
be
held
on
21
August
2024,
with
settlement
scheduled
for
22
August
2024.
This
issuance
aims
to
roll
over
a
maturing
issue
of
2-year
Exchange
Fund
Notes
on
the
same
day,
according
to
the
HKMA.
Details
of
the
Tender
A
total
of
HK$1,200
million
in
2-year
Notes
will
be
on
offer.
Of
this,
HK$5
million
is
reserved
for
non-competitive
tender
bids,
which
can
be
submitted
through
the
Hong
Kong
Securities
Clearing
Company
Limited
(HKSCC).
If
the
non-competitive
tender
is
under-subscribed,
the
remaining
amount
will
be
added
to
the
competitive
tender
portion,
initially
set
at
HK$1,195
million.
The
Notes
will
mature
on
24
August
2026
and
carry
an
interest
rate
of
2.77%
per
annum,
payable
semi-annually
in
arrears.
Participation
Guidelines
Members
of
the
public
interested
in
submitting
non-competitive
tender
applications
through
HKSCC
can
do
so
via
Stock
Exchange
Participants/Brokers
or
directly
through
HKSCC
if
they
hold
Investor
Accounts
in
the
Central
Clearing
and
Settlement
System
(CCASS).
Competitive
tender
applications
must
be
submitted
through
any
of
the
Eligible
Market
Makers
appointed
by
the
HKMA.
Each
tender
must
be
for
an
amount
of
HK$50,000
or
integral
multiples
thereof
for
both
competitive
and
non-competitive
tenders.
Publication
of
Results
The
results
of
the
tender
will
be
published
on
the
HKMA’s
website,
the
Refinitiv
screen
(HKMAOOE),
and
Bloomberg.
Applicants
who
submitted
non-competitive
tender
bids
through
HKSCC
can
also
obtain
results
from
Stock
Exchange
Participants/Brokers
or
directly
from
the
CCASS
terminal
for
CCASS
Broker/Custodian/Participants
and
the
CCASS
Phone
System.
Tender
Information
Summary
Issue Number |
02Y2608 |
---|---|
Stock Code |
4100 (EFN 2.77 2608) |
Tender Date and Time |
Wednesday, 21 August 2024, 9:30 a.m. to 10:30 a.m. |
Issue and Settlement Date |
Thursday, 22 August 2024 |
Amount on Offer |
HK$1,200 million (up to HK$5 million for non-competitive tender) |
Commencement/Deadline for Submission of Non-Competitive Tender Bids |
Please refer to HKSCC requirements |
Maturity |
Two years |
Maturity Date |
Monday, 24 August 2026 |
Interest Rate |
2.77% p.a. |
Interest Payment Dates |
24 February 2025, 22 August 2025, 23 February 2026, 24 August 2026 |
Tender Amount |
Each tender must be for an amount of HK$50,000 or integral multiples thereof. |
Other Details |
Please see Information Memorandum 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 |
Friday, 23 August 2024 |
Price/Yield
Table
Yield-to-Maturity | Price | Yield-to-Maturity | Price |
---|---|---|---|
1.77 | 101.97 | 2.77 | 100.04 |
1.82 | 101.87 | 2.82 | 99.94 |
1.87 | 101.78 | 2.87 | 99.85 |
1.92 | 101.68 | 2.92 | 99.75 |
1.97 | 101.58 | 2.97 | 99.66 |
2.02 | 101.48 | 3.02 | 99.56 |
2.07 | 101.39 | 3.07 | 99.47 |
2.12 | 101.29 | 3.12 | 99.37 |
2.17 | 101.19 | 3.17 | 99.28 |
2.22 | 101.09 | 3.22 | 99.18 |
2.27 | 101.00 | 3.27 | 99.09 |
2.32 | 100.90 | 3.32 | 99.00 |
2.37 | 100.80 | 3.37 | 98.90 |
2.42 | 100.71 | 3.42 | 98.81 |
2.47 | 100.61 | 3.47 | 98.71 |
2.52 | 100.52 | 3.52 | 98.62 |
2.57 | 100.42 | 3.57 | 98.53 |
2.62 | 100.32 | 3.62 | 98.44 |
2.67 | 100.23 | 3.67 | 98.34 |
2.72 | 100.13 | 3.72 | 98.25 |
2.77 | 100.04 | 3.77 | 98.16 |
Disclaimer:
The
information
provided
here
is
for
reference
only.
Although
extreme
care
has
been
taken
to
ensure
accuracy,
the
HKMA
does
not
warrant
that
all
information
is
accurate
in
all
respects.
Users
are
encouraged
to
conduct
their
own
enquiries.
The
HKMA
shall
not
be
liable
for
any
loss
or
damage
suffered
as
a
result
of
any
use
or
reliance
on
this
information.
Image
source:
Shutterstock
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