MONDAY, OCTOBER 18, 1993
7
TENDER FOR FIRST ISSUE OF 3-YEAR EXCHANGE FUND NOTES TO BE HELD ON OCTOBER 25
FOR
THE HONG KONG MONETARY AUTHORITY ANNOUNCES THAT THE TENDER THE FIRST ISSUE OF THREE-YEAR EXCHANGE FUND NOTES WILL BE HELD ON MONDAY, OCTOBER 25, 1993 FOR SETTLEMENT ON TUESDAY, OCTOBER 26, 1993.
THE TWO-YEAR EXCHANGE FUND NOTES PROGRAMME, WHICH WILL REPLACE THE GOVERNMENT BONDS AS THEY MATURE, HAS BEEN WARMLY WELCOMED BY THE FINANCIAL COMMUNITY.
TO MEET MARKET DEMAND AND FACILITATE MARKET DEVELOPMENT, THE MONETARY AUTHORITY HAS DECIDED TO EXTEND THE MATURITY OF THE EXCHANGE FUND NOTES TO THE THREE-YEAR AREA.
SIMILAR TO THE TWO-YEAR EXCHANGE FUND NOTES PROGRAMME, AN AMOUNT OF HK$500 MILLION THREE-YEAR EXCHANGE FUND NOTES WILL BE ISSUED ON A QUARTERLY BASIS. ANOTHER HK$100 MILLION FOR EACH ISSUE WILL BE HELD AS RESERVE BY THE HONG KONG MONETARY AUTHORITY FOR SUPPLY TO MARKET MAKERS IN THE SECONDARY MARKET.
THE NOTES WILL MATURE ON OCTOBER 28, 1996 AND WILL CARRY INTEREST AT THE RATE OF 4.2 PER CENT PER ANNUM PAYABLE SEMI-ANNUALLY IN ARREARS.
TERMS AND CONDITIONS OF THE ISSUE ARE DESCRIBED FULLY IN THE INFORMATION MEMORANDUM.
MEMBERS OF THE PUBLIC WHO WISH TO TENDER FOR THE NOTES MAY DO SO THROUGH ANY OF THE MARKET MAKERS OR RECOGNISED DEALERS ON THE PUBLISHED LIST WHICH CAN BE OBTAINED FROM THE HONG KONG MONETARY: AUTHORITY ON 30TH FLOOR, 3 GARDEN ROAD, HONG KONG (OR TELEPHONE 878 8150). EACH TENDER MUST BE FOR AN AMOUNT OF HK$50,000 OR INTEGRAL MULTIPLES THEREOF.
TENDER INFORMATION FOR FIRST ISSUE OF THREE-YEAR EXCHANGE FUND
NOTES:
ISSUE NUMBER
TENDER DATE AND TIME
*
:
3610
ISSUE AND SETTLEMENT DATE :
AMOUNT ON OFFER
MONDAY, OCTOBER 25, 1993, 9.30 AM TO 10.30 AM
TUESDAY, OCTOBER 26, 1993
HKD 500
MILLION
PLUS
AN
ADDITIONAL HKD 100
MILLION AS
RESERVE STOCK FOR AUTHORITY
THE MONETARY
MATURITY
MATURITY DATE
: THREE YEAR
: OCTOBER 28, 1996
INTEREST RATE
:
4.2 PER CENT PER ANNUM PAYABLE SEMI-ANNUALLY IN ARREARS
/INTEREST PAYMENT